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Germany Nabs UAE Gas Deal as Energy Squeeze Tightens
German Chancellor Olaf Scholz secured just one shipment of liquefied natural gas from the United Arab Emirates, with a non-binding agreement for more, as Europe’s biggest economy struggles to replace Russian supplies. The cargo -- 137,000 cubic meters -- will be delivered by Abu Dhabi National Oil Co. to German utility RWE AG by early 2023. ADNOC also signed a memorandum of understanding to make more deliveries next year. An ensuing trip to Qatar didn’t immediately yield any more deals. Securing additional supplies is crucial for Germany after the Kremlin shut down a key pipeline. Officials have grown ... (full story)