Qatar, Germany sign liquefied natural gas deal amid crisis

Qatar, Germany sign liquefied natural gas deal amid crisis

Germany, which was a major importer of Russian pipeline gas before the war, hasn't received any gas from Russia since the end of August.











Reuters









November 29, 2022 / 03:44 PM IST





An active oil drilling rig. - Bloomberg



Qatar and Germany signed a 15-year deal Tuesday to ship liquefied natural gas from Doha to the European economic powerhouse as it scrambles to replace Russian gas supplies that were cut during the ongoing war in Ukraine.

Officials gave no dollar value for the deal, which would begin in 2026 and see Qatar send up to 2 million tons of the gas to Germany through an under-construction terminal at Brunsbuettel.

The deal involves both Qatar Energy, the nation's state-run firm, and ConocoPhillips, which has stakes in Qatar's offshore natural gas field in the Persian Gulf that it shares with Iran.

As European countries have supported Ukraine after Russia's invasion in February, Moscow has slashed supplies of natural gas used to heat homes, generate electricity and power industry. That has created an energy crisis that is fueling inflation and increasing pressure on companies as prices have risen.

Germany, which was a major importer of