Qatar signed a significant agreement to supply Germany with natural gas!
Energy crisis prompted Berlin to cover future needs following the rupture of its decade-long energy relationship with Russia.
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Qatar Signs Natural-Gas Supply Deal with Germany!
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Qatar, one of the world’s largest exporters of the fuel, has agreed to send Germany two million tons of liquefied natural gas a year for at least 15 years, starting from 2026, in a deal with U.S. energy major ConocoPhillips. The volume would cover around 3% of Germany’s 2021 annual gas consumption and is the first long-term deal Qatar signs with Europe.
While the agreement will help Germany diversify its supplies, it will do little to replace missing Russian supplies in the short term. Before the war in Ukraine, Moscow provided more than half of Berlin’s gas imports. This summer, however, Moscow cut off the flows in what Berlin has called an economic attack in retaliation for its support for Kyiv.
ConocoPhillips will supply gas from Qatar’s North Field East and South projects to the Brunsbüttel LNG terminal currently under construction in Germany, Qatar said.
Germany, which doesn’t have a single LNG import facility, is currently building several along its northern coasts that will be able to cover around one third of its current gas demand.
The deal follows an agreement Qatar signed with China last week to supply Sinopec with LNG for 27 years, the longest LNG deal to date