ADNOC, XRG and SEFE have formally entered into a memorandum of understanding to explore broader collaboration in European gas market. This agreement specifically targets opportunities in shipping, supply, and infrastructure development intended for the German and European energy markets.
Core Areas of Collaboration
The partnership focuses on four distinct operational areas. These include ensuring energy supply security, facilitating market growth and development, strengthening the resilience of the supply chain, and optimizing shipping and portfolio management. By aligning the UAE-based supply capabilities of ADNOC with international sources from XRG, the agreement leverages the established market presence, trading expertise, and infrastructure access held by SEFE.
Infrastructure and Market Development
The scope of this European gas market cooperation includes the potential for joint investment and the development of energy infrastructure. Furthermore, the companies intend to implement measures aimed at optimizing gas and LNG portfolios and managing cargo movements.
Enhancing Energy Security and Market Resilience
“XRG and ADNOC are committed to Germany for the long term. We have already invested €19 billion, and this week the UAE more widely announced the long-term intention to invest a further €40 billion in the country. This agreement with SEFE combines our capabilities and opens new opportunities across the gas and LNG value chain, strengthening energy security and supporting the competitiveness and growth of German industry,” said Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO and Executive Chairman of XRG.
“We are thrilled to deepen our collaboration with such trusted partners as ADNOC and XRG. In today’s energy landscape, closer cooperation across the value chain is critical. By bringing together ADNOC and XRG’s global supply capabilities with SEFE’s market presence, trading expertise, customer relationships and infrastructure access, we aim to enhance the resilience of Germany’s and Europe’s energy systems,” added SEFE CEO Egbert Laege.
The European gas market agreement further broadens XRG’s existing investment presence in Germany, which includes Covestro, to encompass the gas and LNG value chains.
