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(Bloomberg) – Abu Dhabi National Oil Company is finalizing a deal to deliver six shipments of liquefied natural gas to Germany next year, people familiar with the matter said.
The additional shipments will not include the first shipments due to be delivered as early as December for the commissioning of RWE AG’s floating import terminal in Brunsbüttel, near Hamburg, according to people familiar with the matter who asked not to be named.
Germany is looking for new sources of natural gas after the government secured five floating LNG import plants to help ease its reliance on Russian fuel and ease an unprecedented energy price crunch. The deal will help secure supplies in Europe’s largest economy, which is struggling to replace dwindling Russian flows. German Chancellor Olaf Scholz received just one shipment during his trip to the Middle East over the weekend, while more deliveries are planned for next year.
The first cargo – 137,000 cubic meters – will be delivered by Adnoc to RWE’s Brunsbüttel terminal in late December or early 2023.
“More cargoes are planned, but the exact amount is not known,” a spokesman for the German economy ministry said. “Negotiations are ongoing.” Adnoc declined to comment, and RWE was not immediately available.
Buyers and delivery terminals for the other six shipments next year are unclear.
The German government last month reached an agreement with RWE and another utility, Uniper SE, to arrange for the temporary supply of LNG through two new terminals. According to RWE, the plant in Brunsbuettel will start up by the end of this year. Uniper said that the construction of the Wilhelmshaven terminal, led by Uniper, has begun and is expected to be operational this winter.
The UAE plans to more than double its LNG export capacity by 2027 to build a new production plant. Adnoc is also building its LNG trading business.
– Assisted by Vanessa Dezem, Petra Sorge and Paul Wallace.
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