Germany's RWE Widens Global Search for LNG Supplies

Christoph Steitz and Matthias Inverardi
Thursday, August 11, 2022

RWE is holding talks with a larger number of suppliers of liquefied natural gas (LNG), not just Qatar and North America, CEO Markus Krebber said, as Germany's largest power producer continues its efforts to replace Russian gas volumes.

RWE earlier this year said it was in discussions with potential LNG suppliers in the United States and Qatar, as Germany tries to diversify away from Russia, its largest supplier of natural gas.

Sources told Reuters in May that talks with Qatar have proven difficult over a disagreement regarding key contract clauses, most notably differences over how long supply agreements would run. 

German Economy Minister Robert Habeck said last month Qatar had decided not to make a good offer and that potential importers had procured gas elsewhere for now, Bild am Sonntag reported.

"We are talking to all kinds of suppliers, and there are certainly other countries that have significant LNG export capacity," RWE's Krebber told journalist after presenting final first-half results. "The talks are ongoing."



Apart from Qatar and the United States, Australia is also among the world's top LNG exporters.

RWE, which is less affected by the reduction of Russian gas supplies than rival Uniper, said it shipped 40 LNG cargoes to Europe in the first six months of 2022, four times the amount of the same period last year.

Krebber said expanding LNG terminals was the key to improving gas supply in Europe, adding RWE would fill terminals once they have been built, including a planned floating unit in Bruensbuettel that aims to start operations in December.

"Infrastructure in Europe is at a breaking point," he said.

RWE in May unveiled plans to buy around 3 billion cubic meters of LNG per year from U.S.-based Sempra Energy from 2027, which Krebber said would cover RWE's share in the planned Brunsbuettel LNG terminal.


 (Reporting by Christoph Steitz, Matthias Inverardi and Vera Eckert; Editing by Maria Sheahan and David Evans)

Categories: Energy LNG Industry News Activity Europe Asia North America

Related Stories

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

Hanwha Ocean Enlists ABB for Singapore’s First Floating LNG Terminal

POSH Set to Tow Nguya FLNG from China to Eni’s Congo Field

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

Current News

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

SBM Offshore, SLB to Optimize FPSO Performance Using AI

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com