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    RWE   DE0007037129

RWE AG

(RWE)
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Real-time Estimate Tradegate  -  06:00 2022-08-08 am EDT
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Germany, Qatar sign energy partnership agreement

05/20/2022 | 07:11am EDT
German President Steinmeier meets with Qatar's Emir Sheikh Tamim bin Hamad al-Thani, in Berlin

BERLIN (Reuters) - Germany and Qatar signed on Friday a declaration to deepen their energy partnership, with a focus on trade in hydrogen and liquefied natural gas (LNG), as Europe's biggest economy looks for alternative supplies amid Russia's invasion of Ukraine.

The partnership deal foresees regular meetings between authorities from both countries and creates a working group focused on developing trade relations in LNG and hydrogen, as well as one devoted to renewable energy.

Qatar's Emir Sheikh Tamim bin Hamad al-Thani was in Germany for the signing of the deal with German Economy Minister Robert Habeck, who travelled to Qatar in March, along with officials from German utilities RWE and Uniper, for talks on long-term LNG supply deals.

The agreement does not mean long-term LNG deals will be concluded, three people familiar with the supply deal talks told Reuters earlier this month.

Those talks face challenges, they said, with Berlin reluctant to commit to Qatar's conditions to sign deals of at least 20 years to secure the massive LNG volumes Germany needs to reduce its dependence on Russian gas.

Russia is currently the largest supplier of gas to Germany, and Habeck has launched several initiatives to lessen Berlin's energy dependence on Moscow since the invasion of Ukraine.

(Writing by Miranda Murray; Editing by Rachel More and Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RWE AG 2.14% 41.98 Delayed Quote.15.06%
S&P GSCI NATURAL GAS INDEX -2.58% 367.7217 Real-time Quote.117.75%
UNIPER SE 2.60% 7.115 Delayed Quote.-83.41%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.02% 60.5 Delayed Quote.-18.87%
All news about RWE AG
02:00aRWE AG(NEU) : Jefferies gives a Buy rating
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07/28RWE AG(NEU) : Deutsche Bank remains its Buy rating
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Financials
Sales 2022 22 105 M 22 451 M 22 451 M
Net income 2022 2 035 M 2 067 M 2 067 M
Net Debt 2022 6 816 M 6 923 M 6 923 M
P/E ratio 2022 14,4x
Yield 2022 2,21%
Capitalization 27 793 M 28 227 M 28 227 M
EV / Sales 2022 1,57x
EV / Sales 2023 1,56x
Nbr of Employees 18 218
Free-Float 92,9%
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Number of Analysts 20
Last Close Price 41,10 €
Average target price 50,71 €
Spread / Average Target 23,4%
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Managers and Directors
Markus Krebber Chief Executive Officer
Michael Müller Chief Financial Officer
Werner Brandt Chairman-Supervisory Board
Dagmar Mühlenfeld Member-Supervisory Board
Ullrich Sierau Member-Supervisory Board
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