UAE Companies Deepen Cooperation on Gas and LNG Supplies for Europe
ADNOC, XRG, and SEFE have signed a Memorandum of Understanding to deepen cooperation in the natural gas and LNG value chains.
The partnership aims to strengthen energy security and supply resilience for Germany and Europe by combining ADNOC's UAE-based gas and LNG supplies with XRG's international supply network and SEFE's position in the European energy market.
The agreement builds on ADNOC's growing role as an LNG supplier to Germany, where it has delivered its first Middle Eastern cargo in early 2023 and signed long-term agreements with German customers.
XRG is expanding its strategic presence in Germany through this partnership, which comes after the company invested €19 billion in the country. The UAE plans to invest a further €40 billion in Germany, as announced earlier this week.