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The United Arab Emirates has agreed to supply Germany with gas, which could help European countries wean themselves off Russian gas during the Ukraine war.
what happened: The agreement was reached during a visit by German Chancellor Olaf Schultz to the UAE on Sunday, where he met with UAE President Sheikh Mohamed bin Zayed. Specifically, Abu Dhabi National Oil Company (ADNOC) has struck a deal for LNG with German energy company RWE AG. ADNOC will deliver gas to a German offshore terminal near the Elbe by the end of 2022.Officials say more shipments in 2023 Emirates News Agency report.
Why it matters: Ahead of the European winter, Germany is looking for an alternative to Russian gas. Germany, along with other European countries, began searching for non-Russian energy sources after the invasion of Ukraine in February.
The UAE is not the only Gulf country supplying gas to Germany.Qatar begins to consider natural gas to germany In January, in anticipation of a Russian invasion, although Qatari gas may Europe won’t arrive until 2024.
last week, Reuters RWE and German utility Uniper are reportedly “close” to a deal to acquire Qatari gas.
Italian energy giant Eni is also gas discussion with ADNOC. Like Germany, Italy also imports natural gas from Russia.
understand more: Dubai-based news outlet ADNOC has signed an agreement to acquire two new offshore drilling rigs zavia reported on Monday.
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