UAE and Germany Sign Energy Security & Industry Accelerator Agreement
UAE President, H.H. Sheikh Mohamed bin Zayed Al Nahyan, and German Chancellor, H.E. Olaf Scholz, witnessed the signing of an Energy Security and Industry Accelerator (ESIA) Agreement to accelerate projects of joint interest between both the countries.
The agreement involving energy security, decarbonization and climate action sectors, came on the second day of a two-day trip to the Gulf region by Scholz.
The agreement was signed by H.E. Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and H.E. Dr Franziska Brantner, Germany's Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action.
As part of the agreement, Masdar will explore opportunities in offshore wind markets in the North Sea and Baltic Sea in Germany that could generate up to 10 GW of capacity by 2030.
As part of the agreement, Abu Dhabi National Oil Company (ADNOC) has entered into an LNG supply agreement with RWE AG (RWE), with ADNOC providing an LNG cargo for delivery in late 2022, to be used in the commissioning of Germany’s floating LNG import terminal at Brunsbüttel.