Abu Dhabi Firms Secure €5 Billion in German Deals Amid UAE Investment Plans
Abu Dhabi-based companies Adnoc, XRG, and Masdar have sealed several agreements with German partners that could generate over €5 billion in investment for Germany's energy and industrial sectors. The deals were announced during President Sheikh Mohammed's state visit to Germany.
The agreements cover liquefied natural gas, gas infrastructure, renewable energy, low-carbon ammonia, advanced materials, technology, and artificial intelligence. Adnoc and RWE signed a deal to supply liquefied natural gas to Germany and other European countries, as well as Asian customers.
Adnoc, XRG, and SEFE agreed to assess potential cooperation in gas supplies, infrastructure, and logistics development, with the goal of supporting long-term energy security and the development of the European market. Fertiglobe, Covestro, and MB Energy will explore cooperation on low-carbon ammonia supply chains.
The UAE also announced plans to invest €40 billion in Germany over the long term. The agreements were concluded with several major German companies, including RWE, Securing Energy for Europe (SEFE), MB Energy, Covestro, Siemens Energy, Siemens Industrial, Bosch Middle East, and Luxcara.