Berlin: XRG, ADNOC, and SEFE Securing Energy for Europe have signed a Memorandum of Understanding to explore new opportunities across the natural gas and LNG value chains. This partnership aims to enhance the reliability and competitiveness of energy supplies for Germany and Europe.
According to Emirates News Agency, the agreement was signed during the visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Germany. It capitalizes on the existing partnership between the companies, combining UAE-based supply from ADNOC with international supply nodes from XRG. This collaboration underscores SEFE's position as a key partner and builds on its long-standing relationship with ADNOC.
Dr. Sultan Ahmed Al Jaber, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, emphasized their commitment to Germany, highlighting an existing investment of £19 billion and plans for an additional £40 billion investment. He stated that the agreement with SEFE strengthens energy security and supports the competitiveness of German industry by opening new opportunities across the gas and LNG value chain.
Dr. Egbert Laege, CEO of SEFE, expressed enthusiasm for the collaboration with ADNOC and XRG. He noted the importance of cooperation in today's energy landscape, aiming to enhance the resilience of Germany's and Europe's energy systems by leveraging ADNOC and XRG's global supply capabilities along with SEFE's market presence and infrastructure access.
The agreement outlines four areas for potential collaboration: enhancing energy security across Germany and Europe, supporting market development and growth, strengthening supply chain resilience, and optimizing portfolio management and cargo movements.
ADNOC's commitment as a reliable LNG supplier to Germany is further reinforced by this agreement. The company had delivered the first cargo of Middle East LNG to Germany in early 2023 and has established long-term LNG agreements with German customers.
XRG's strategic footprint in Germany is also expanded through this agreement, extending its commitment into the gas and LNG value chains, further solidifying its role as a significant investor in the country.