RWE strengthens partnerships with ADNOC and Masdar

06 Feb RWE strengthens partnerships with ADNOC and Masdar

(Oilandgaspress) -] His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and German Chancellor Friedrich Merz witnessed today the exchange of two Memoranda of Understanding (MoUs): one between RWE and ADNOC, and the other between RWE and Abu Dhabi Future Energy Company PJSC – Masdar. These agreements mark a new chapter in advancing energy security in Germany and across Europe.

The agreements were exchanged by H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Chairman of Masdar, and Dr. Markus Krebber, CEO of RWE, during the Chancellor’s state visit to the UAE.

The Strategic Collaboration Agreement between ADNOC and RWE sets out the framework to explore collaboration on LNG (liquefied natural gas) deliveries to Germany and other European markets, of up to 1 million tonnes per annum (MTPA) of LNG for up to 10 years. This corresponds to up to 12 cargoes of LNG and up to 1.4 billion cubic meters (BCM) of natural gas per year. The agreement reaffirms both parties’ commitment to long-term cooperation. RWE and ADNOC have also agreed to explore collaboration on short-term LNG trading activities between their respective global LNG portfolios.

Under the MoU between RWE and Masdar, the companies will work together to identify and pursue investments in battery energy storage systems (BESS) projects in Germany. Masdar will explore investing by 2030 in existing BESS projects in the country owned by RWE, with a capacity of up to 1 gigawatt (GW). In addition, RWE and Masdar will assess the joint development of new BESS projects of up to 1 GW by 2035. The development of battery storage systems will support the expansion of renewable energy by balancing intermittent supply, thereby ensuring a stable, affordable, and secure power supply in Germany. This will also help to meet the growing demand for reliable power from new data centres.

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