Qatar announces first major gas deal for Germany

Qatar announces first major gas deal for Germany

Saad Sherida Al Kaabi, Qatar's energy minister and CEO of QatarEnergy; and Ryan Lance, CEO of multinational corporation ConocoPhillips, exchange documents during a press conference in Qatar's capital Doha on November 29, 2022. — AFP

By AFP Published: Tue 29 Nov 2022, 4:30 PM Last updated: Tue 29 Nov 2022, 4:33 PM

Qatar on Tuesday announced its first major deal to send liquefied natural gas to Germany as Europe scrambles to find alternatives to Russian energy sources.

Qatar’s Energy Minister Saad Sherida al-Kaabi said up to two million tons of gas a year would be sent for at least 15 years from 2026, and that state-run QatarEnergy was discussing other possible deals for Europe’s biggest economy.

Kaabi, who is also QatarEnergy’s chief executive, said so many European and Asian countries now want natural gas that he did not have enough negotiators to cope.

The talks for the latest deal took several months as Germany has resisted the long-term contracts that Qatar normally demands to justify its massive investment in the industry.

Russia’s invasion of Ukraine in February increased pressure on the German government to find new sources. And the latest deal will not help the country get through the looming winter.

The gas will be bought through