XRG, ADNOC and SEFE have signed a memorandum of understanding to explore wider cooperation across the natural gas and LNG value chain, including supply, infrastructure and shipping opportunities aimed at Germany and the wider European market.
The agreement covers potential cooperation in four areas: security of supply, market development and growth, supply chain resilience, and portfolio and shipping optimization.
The companies will explore combining ADNOC's UAE-based supply and XRG's international supply sources with SEFE's market presence, trading capabilities, customer relationships and infrastructure access.
The partnership could also include investment in and development of energy infrastructure, as well as measures to optimize gas and LNG portfolios and cargo movements.
"XRG and ADNOC are committed to Germany for the long term. We have already invested €19 billion, and this week the UAE more widely announced the long-term intention to invest a further €40 billion in the country. This agreement with SEFE combines our capabilities and opens new opportunities across the gas and LNG value chain, strengthening energy security and supporting the competitiveness and growth of German industry," said Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO and Executive Chairman of XRG.
The MoU was signed during UAE President Sheikh Mohamed bin Zayed Al Nahyan's visit to Germany and builds on an existing relationship between ADNOC and SEFE.
ADNOC delivered its first Middle East LNG cargo to Germany in early 2023 and has signed long-term LNG agreements with German customers, alongside piped gas supply through the Southern Gas Corridor.
"We are thrilled to deepen our collaboration with such trusted partners as ADNOC and XRG. In today's energy landscape, closer cooperation across the value chain is critical. By bringing together ADNOC and XRG's global supply capabilities with SEFE's market presence, trading expertise, customer relationships and infrastructure access, we aim to enhance the resilience of Germany's and Europe's energy systems," added SEFE CEO Egbert Laege.
The agreement also expands XRG's existing investment footprint in Germany, which includes Covestro, into the gas and LNG value chains.
AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week
