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Germany secures just one tanker of LNG from UAE

Samizdat | September 27, 2022

German utility RWE has inked a deal with Abu Dhabi National Oil Company (ADNOC) for delivery of liquefied natural gas (LNG), the company announced on Sunday.

The deal so far covers only one tanker: a shipment amounting to 137,000 cubic meters of LNG to be delivered by Abu Dhabi National Oil company to RWE in late December or by early 2023, Bloomberg reported, citing the company’s announcement. Separately, RWE also announced it will partner with UAE-based company Masdar to explore offshore wind energy projects and supply 250,000 tons of diesel per month in 2023 to Germany’s fuel distributor Wilhelm Hoyer.

The deal also includes a memorandum of understanding for more LNG deliveries next year, but the document is non-binding and it is unclear how many more LNG deliveries Germany may expect.

The agreement was signed during German Chancellor Olaf Scholz’s trip to Abu Dhabi during a tour of the Gulf countries.

“We need to make sure that the production of LNG in the world is advanced to the point where the high demand that exists can be met without having to resort to the production capacity that exists in Russia,” Scholz told reporters prior to the deal’s announcement.

After the UAE, Scholz visited Qatar. However, according to Scholz’s statement issued after the meeting with the Qatari emir, no agreements on LNG supplies have been made there. The two countries have been in talks over LNG supplies for several months now, so far to no avail, as Berlin is reluctant to enter into long-term contracts with Doha.

September 27, 2022 - Posted by | Economics, Russophobia | , ,

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