Abu Dhabi firms announce deals in Germany that could generate more than €5 billion of investment
Abu Dhabi companies Adnoc, XRG and Masdar on Friday announced agreements that could potentially create more than €5 billion of investment in Germany’s energy and industrial sectors. The deals were signed during President Sheikh Mohamed's state visit to Germany, which saw the announcement of €40 billion ($46.47 billion) being invested by the UAE in Germany , as part of a long-term commitment to…
Abu Dhabi firms Adnoc, XRG, and Masdar have signed agreements in Germany that could lead to over €5 billion in investment across the energy and industrial sectors. These deals were made during President Sheikh Mohamed's state visit to Germany, where a total of €40 billion has been pledged for investment in Germany. The agreements involve various sectors, including liquefied natural gas (LNG), gas, renewable energy, advanced materials, and technology.
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, emphasized the long-term partnership between the UAE and Germany to drive economic growth and shared prosperity. The agreements come as part of a €40 billion investment commitment and include collaborations with German companies such as RWE, Securing Energy for Europe (SEFE), MB Energy, Covestro, Siemens Energy, Siemens Industrial, and Bosch Middle East.
The UAE-Germany Investment Council was launched to facilitate government, capital, and corporate cooperation in identifying and accelerating growth in priority sectors. Key agreements include Adnoc and RWE partnering to deliver LNG to Germany and Europe, as well as Asia, starting in the early 2030s. Ta ziz, a joint venture between Adnoc and ADQ, and Covestro are working towards a Ruwais facility with a potential production start after 2030.
Additionally, Adnoc and XRG are assessing collaboration with SEFE in gas supply, infrastructure, logistics, and portfolio optimization. Fertiglobe, a nitrogen fertiliser and low-carbon ammonia exporter, has agreed to explore low-carbon ammonia supply chains with Covestro and MB Energy. In the renewables sector, Masdar and RWE are considering joint participation in German offshore wind auctions, while Masdar and Luxcara are forming a strategic partnership to explore offshore wind and battery storage projects in Germany and Europe.
Adnoc also signed agreements with Bosch Middle East and Siemens Energy and Siemens Industrial for advanced technology and artificial intelligence collaboration.
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