Adnoc, XRG and Masdar sign deals with German energy firms

The National UAE reports that Adnoc, XRG, and Masdar have signed agreements with German companies covering liquefied natural gas (LNG), renewable energy, advanced materials, and technology. These deals, which could lead to over €5 billion in investment, were signed during President Sheikh Mohamed's state visit to Germany, strengthening the partnership between Germany and the UAE.

The agreements include a letter of intent between Adnoc Gas and XRG's growing portfolio to pursue up to two long-term LNG sales agreements, potentially beginning in the early 2030s, with supplies delivered to Germany, Europe, and Asian customers. Additionally, Masdar and RWE agreed to explore joint participation in future German offshore wind auctions, while Masdar and Luxcara will consider joint investments in offshore wind and battery storage projects in Germany and Europe.

Other agreements with Bosch Middle East, Siemens Energy, and Siemens Industrial will explore cooperation on artificial intelligence and advanced technology. These deals were announced alongside the launch of the UAE-Germany Investment Council, which aims to seek investment opportunities in priority sectors. Adnoc, XRG, and Masdar have already invested over €20 billion in Germany's energy and industrial sectors.

Brief written by urgent.news from The National UAE's own syndicated text. Machine-written — may contain errors; check the original before relying on it.