LNG

Abu Dhabi National Oil Company (ADNOC) has agreed to work with Germany’s largest utility RWE on delivering up to 1 mtpa of LNG for up to 10 years to Germany and other European markets. The envisaged volume corresponds to up to 12 cargoes of LNG and up to 1.4 bcm of natural gas per year, under a framework agreement signed Sultan Ahmed Al Jaber, Group CEO of ADNOC and chairman of Masdaar and RWE CEO Markus Krebber.

RWE AG, the German utility with LNG import interests at Brunsbüttel on the Elbe while also being involved in coal-fired generation and energy trading, reported improved earnings.