Germany inks LNG deal as Chancellor Scholz visits Gulf to secure energy
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German utility RWE has signed a deal with Abu Dhabi National Oil Company (ADNOC) to deliver liquefied natural gas to Europe’s largest economy by the end of December, RWE announced on Sunday per Reuters.
“The deal, which includes a memorandum of understanding for multi-year supplies of LNG, came on the second day of a two-day trip to the Gulf region by Scholz,” adds the news.
Additionally, German Chancellor Scholz In Doha stated that he talked with the Emir about LNG-deliveries. “We want to achieve further progress.”
The news may offer a sigh of relief to traders after Friday’s slump to the fresh multi-year low. The market reaction, however, is yet to be witnessed during the initial hours of Asian session on Monday.
Also read: EUR/USD Weekly Forecast: No rest for the wicked
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