Qatar on Tuesday officially announced its first major deal to export liquefied natural gas (LNG) to Germany, as countries scramble to find an alternative to Russian energy sources.
Qatar’s Energy Minister Saad Sherida al-Kaabi said QatarEnergy was working toward sending up to two million tons of gas each year to European countries from 2026.
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Qatar Energy’s CEO Kaabi stated so many European and Asian countries now want natural gas but he did not have enough negotiators to close the deal with them.
Negotiations between the countries for the terms of the investment took months due to the German government’s refusal to approve the long-term contracts that Qatar needs.
Germany’s invasion of Ukraine in February increased pressure on the German government to find new methods to supplement energy supply. The new agreement will not help Germany make it through the upcoming winter.
The gas will be bought through ConocoPhillips, whose headquarters in the US is long-term partner of the QatarEnergy organization, and shipped to the brand-new terminal at Brunsbuttel.
“We are committed to contribute to the energy security of Germany and Europe at large,” Kaabi told a press conference after the signing ceremony with ConocoPhillips chief executive Ryan Lance.