UAE President Sheikh Mohammed bin Zayed Al Nahyan and German Chancellor Olaf Schaals signed a strategic agreement for energy security and industrial development in Abu Dhabi on Sunday.
According to the UAE's official news agency WAM, the agreement was signed between Abu Dhabi's national petroleum company ADNOC and the German company RWE. Under this, liquefied natural gas will be supplied to Germany.
ADNOC will export its first batch of gas to Germany later this year. More gas will be supplied in 2023.
The shipment of diesel will be sent to Germany during the current month of September. During 2023, two and a half million tons of diesel will be provided to Germany per month.
The German chancellor said that the declaration of joint ambitions related to energy security and rapid industrial development will give an opportunity to speed up the implementation of strategic plans. Strategic plans are on renewable energy, hydrogen, liquefied natural gas and environmental issues.
The German chancellor said in a statement that Germany has made progress in negotiations with the Gulf countries for the purchase of gas and diesel. Germany is making alternative arrangements in case of stoppage of Russian gas supply.
European countries including Germany will have to face a harsh winter due to shortage in gas supply. Alternative arrangements are being made to avoid this.
