- RWE and ADNOC agree to work on exploring LNG supply to Germany and additional European markets
- RWE and Masdar sign Memorandum of Understanding to jointly invest in Battery Energy Storage Systems in Germany
- Agreements look to enhance collaboration between RWE and the UAE companies through to 2030 and beyond
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.
Dr. Markus Krebber, CEO of RWE AG: 'I am very pleased about our strategic collaboration with ADNOC, which underscores our shared commitment to securing Europe’s energy needs. Our plans build on a successful and long-lasting partnership. By establishing new LNG supply agreements, we are strengthening the security of supply for Germany and across Europe, while further diversifying RWE’s global LNG portfolio for the benefit of our customers. The MoU with Masdar reflects the importance RWE and Masdar place on flexible energy storage as a foundation for grid stability, security of supply, and the integration of renewable energy – core pillars of Germany’s climate neutrality and energy policy objectives. Our collaboration is underpinned by a strong track record, most recently demonstrated by our joint success in the latest UK offshore wind auction for the Dogger Bank South projects. Together, we are making significant progress towards a secure and sustainable energy future for Europe.'
Mohamed Jameel Al Ramahi, CEO of Masdar, said: 'Battery storage is critical to unlocking renewable energy deployment and delivering clean, reliable, affordable electricity for the benefit of consumers, businesses and communities. Germany is an important market for Masdar as we progress toward our target of 100 gigawatts of capacity worldwide by 2030 and we look forward to building on our already powerful partnership with RWE to support energy transformation in Germany and across Europe.'
RWE’s longstanding partnership with Masdar began in 2008 with their co-investment in the London Array offshore wind farm. Last month, the companies were awarded Contracts for Difference (CfDs) – the UK Government’s primary mechanism for enabling the deployment of low-carbon electricity generation at scale – for the DBS (Dogger Bank South) offshore wind farms. Representing an £11 billion investment, DBS comprises two 1.5-gigawatt projects, DBS East and DBS West, together forming one of the UK’s largest offshore wind projects currently under development.
Source: RWE
