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Germany signs liquid gas deal with United Arab Emirates


Olaf Scholz's trip to the Arabian Peninsula shows initial successes for energy security at home: RWE will in future receive liquid gas from an Arabian state-owned company.

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Scholz with Mariam Almheiri, Climate Protection Minister of the United Arab Emirates


In future, Germany will receive liquefied natural gas (LNG) from the United Arab Emirates (UAE) as a replacement for the lack of energy supplies from Russia.

During the visit of Federal Chancellor Olaf Scholz (SPD) to the Gulf state, the Essen-based energy company RWE signed a contract for the first delivery of 137,000 cubic meters of LNG.

According to RWE, a memorandum on multi-year deliveries from 2023 has been signed.

The gas is to be delivered by ship in December to the new terminal in Brunsbüttel, the first lines of which are currently being built.

For comparison: 137,000 cubic meters of liquid gas correspond to around 1.37 million kilowatt hours.

Before the Russian invasion of Ukraine, up to 1.7 million kilowatt hours flowed through the Nord Stream 1 pipeline every day.

According to RWE, the deal marks "an important milestone" for Germany's future LNG supply.

With the trip to the Gulf region, the Federal Chancellor wants to ensure the energy supply for domestic industry.

After Saudi Arabia, Scholz wants to travel on to Qatar.

The rich emirate has the third largest gas reserves in the world after Russia and Iran and is the leading exporter of liquefied natural gas (LNG).

However, no deals are expected in Qatar.

In return, Scholz is expected to address the working conditions of guest workers before the start of the World Cup in the country.

These are far from ideal.

There is progress on issues that should have been fought for a long time, "e.g. the situation of employees." But that does not correspond to his ideas, says Scholz.


Source: spiegel

All business articles on 2022-09-25

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