German firms sign deals in UAE as Berlin seeks alternative energy supplies

German firms sign deals in UAE as Berlin seeks alternative energy supplies


Electricity transmission pylons beside the gas-fired power plant, operated by Uniper SE, in Irsching, Germany, on Wednesday, July 7, 2021.

Michaela Handrek-Rehle | Bloomberg | Getty Images

German companies have signed agreements with firms in the United Arab Emirates (UAE) to build up a hydrogen supply chain, Germany’s economy ministry said on Monday, as Berlin looks to cut carbon emissions and reduce its reliance on Russian energy.

The deals were signed during a visit by German Economy Minister Robert Habeck to Gulf states to discuss long-term energy supplies. Berlin is investing in cleaner energy and aiming to cut its reliance on Russian energy as part of Western efforts to put pressure on Moscow over its invasion of Ukraine.

Germany’s Hydrogenious and Uniper, along with Abu Dhabi National Oil Company (ADNOC) and Japan’s JERA, will undertake a joint demonstration project for hydrogen transport, the ministry said in a statement.

The agreement aims to build a supply chain of hydrogen produced by renewable energy from the UAE to Wilhelmshaven in Germany, based on Liquid Organic Hydrogen Carriers (LOHC) technology.

ADNOC also signed contracts with German copper manufacturer Aurubis and energy firms RWE, Steag and GEWEC to ship so-called blue ammonia —a low carbon method of producing the compound — to Germany.

Hamburger Hafen & Logistik AG (HHLA) and ADNOC will cooperate to transport the blue ammonia.

The CEO of Thyssenkrupp, which hopes to list its hydrogen unit Nucera on the stock market this year, accompanied Habeck on the trip.

Additionally, German research organization the Fraunhofer Society and the Emirati ministry of energy and infrastructure agreed to deepen the exchange of expertise in sustainable energy and applied hydrogen technology.



Source

The number of ‘tariff’ mentions soar past ‘AI’ on earnings calls as Trump’s trade fight alters outlook
World

The number of ‘tariff’ mentions soar past ‘AI’ on earnings calls as Trump’s trade fight alters outlook

Move over artificial intelligence. There’s a new hot topic on corporate earnings calls in 2025: tariffs. The word “tariffs” has come up on more than 350 earnings calls of S & P 500 -listed companies reporting first quarter results, according to a CNBC analysis of call transcripts compiled by AlphaSense. By contrast, the term “AI” […]

Read More
First Chinese freight ship goods hit with Trump’s 145%-plus tariffs arriving at U.S. ports
World

First Chinese freight ship goods hit with Trump’s 145%-plus tariffs arriving at U.S. ports

Container ships sit docked at the Port of Los Angeles on May 06, 2025 in San Pedro, California. Justin Sullivan | Getty Images News | Getty Images The first shipping containers carrying Chinese products that are subject to President Donald Trump’s 145% tariffs have begun arriving in U.S. ports. Seven ships carrying upward of 12,000 […]

Read More
This consumer products stock is rushing to leave China and Wall Street is betting it can pull it off
World

This consumer products stock is rushing to leave China and Wall Street is betting it can pull it off

Wall Street is optimistic SharkNinja will be able to move its sourcing completely out of China. The company, which manufactures appliances such as vacuums and the Ninja Creami ice cream maker, rallied nearly 13% on Thursday following a first-quarter earnings beat. SharkNinja raised its guidance for its fiscal-year earnings, revenue growth and adjusted EBITDA estimates. […]

Read More