RWE strengthens partnerships with ADNOC and Masdar

RWE has signed two memoranda of understanding (MoU) in Abu Dhabi, one with Abu Dhabi National Oil Company (ADNOC) on LNG deliveries and the other with Abu Dhabi Future Energy Company (Masdar) on battery energy storage systems (BESS).

The agreement confirms a ‘strategic collaboration’ between ADNOC and RWE and sets out the framework to explore collaboration on LNG (liquefied natural gas) deliveries to Germany and other European markets, of up to one million tonnes per annum (mtpa) of LNG for up to ten years. This corresponds to up to 12 cargoes of LNG and up to 1.4 billion cubic metres of natural gas a year.

RWE AG CEO Dr Markus Krebber said: “Our plans build on a successful and long-lasting partnership. By establishing new LNG supply agreements, we are strengthening the security of supply for Germany and across Europe, while further diversifying RWE’s global LNG portfolio for the benefit of our customers.

“The MoU with Masdar reflects the importance RWE and Masdar place on flexible energy storage as a foundation for grid stability, security of supply, and the integration of renewable energy – core pillars of Germany’s climate neutrality and energy policy objectives.” 

RWE and ADNOC have also agreed to explore collaboration on short-term LNG trading activities between their respective global LNG portfolios.

Meanwhile, the companies will work together to identify and pursue investments in BESS projects in Germany under the MoU between RWE and Masdar. By 2030, Masdar will explore investing in existing RWE-owned BESS projects in the country, with a capacity of up to one gigawatt (GW).

In addition, RWE and Masdar will assess the joint development of new BESS projects of up to 1GW by 2035. 

RWE’s partnership with Masdar began in 2008 with their co-investment in the London Array offshore wind farm. Last month, the two companies were awarded contracts for difference for the Dogger Bank South offshore wind farms.

Representing an £11bn investment, DBS comprises two 1.5GW projects, DBS East and DBS West, together forming one of the UK’s largest offshore wind projects currently under development.

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