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
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
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