Germany concludes a 15-year LNG import agreement with the United Arab Emirates. What about decarbonisation?
The German state company Securing Energy for Europe (Sefe) has signed an agreement with ADNOC, under which the Abu Dhabi national oil company will supply LNG to Germany for 15 years starting in 2028.
ADNOC has signed the 15-year agreement with Sefe for the supply of 1 million metric tonnes per annum (mmtpa) of liquefied natural gas (LNG), the UAE state energy firm said on Thursday .
LNG deliveries will be made from ADNOC's Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi.
The Ruwais plant nearing completion
The definitive LNG agreement is contingent on the final investment decision on the project, including regulatory approvals, and the negotiation of a definitive sale and purchase agreement between the two companies, Sefe said in a separate statement today.
The Ruwais LNG project is expected to be the first LNG export plant in the Middle East and North Africa (MENA) region to run on clean energy, making it one of the lowest carbon-intensive LNG plants in the world, the German company says , which was created in 2022 after Germany rescued a former Gazprom unit that it expropriated in April with a multibillion-dollar loan.
On the one hand this is positive, but on the other it seems to make us forget that, in any case, Natural Gas is extracted from Ruwais which is then liquefied. So a fossil energy source is extracted which produces carbon energy and liquefying it will use energy which, however, could be used differently.
“We are pleased to be the first European company to secure LNG volumes from ADNOC's low-carbon Ruwais LNG project and hope that this agreement will be the basis for closer collaboration in the LNG and low-carbon alternatives sector. carbon,” SEFE CEO Dr. Egbert Laege said in a statement.
For ADNOC, the deal represents a further export outlet for its LNG project, as the UAE giant seeks to play a larger role in global LNG supply, while for Sefe and Germany, the The deal would represent another source of gas that would increase their energy security.
Late last year, Sefe signed a natural gas supply deal with Equinor, one of the largest natural gas supply deals ever for the Norwegian energy giant, worth an estimated $55 billion (50 billion EUR).
Germany, in this way, ensures long-term supplies to meet its energy needs which will reach up to 2043. However, although covered with a "Green" patina, these are carbon sources, and this makes smile a little.
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The article Germany concludes a 15-year LNG import agreement with the United Arab Emirates. What about decarbonisation? comes from Economic Scenarios .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-germania-conclude-accordo-per-importazione-di-lng-a-15-anni-con-gli-emirati-arabi-e-la-decarbonizzazione/ on Mon, 18 Mar 2024 15:07:33 +0000.