Germany inlngdeal withqatar for15years
Germany is set to receive new flows of Qatari liquefied natural gas (LNG) from 2026 after Qatarenergy and Conocophillips on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period.
Meanwhile,qatar's energy minister Saad al-kaabi sees no limit to the amount of liquefied natural gas (LNG) that the country is willing to ship to Germany, according to an interview with Germany's Bild published on Tuesday.
Since Russiaukraine war , competition for LNG has become intense, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40 per cent of the continent’s imports. The deal, the first of its kind to Europe from Qatar’s North Field expansion project, will provide Germany with 2 mn tonnes of LNG annually, arriving from Ras Laffan in Qatar to Germany’s northern LNG terminal of Brunsbuettel, Qatarenergy’s chief executive said.
“(The agreements) mark the first ever long-term LNG supply agreement to Germany, with a supply period that extends for at least 15 years, thus contributing to Germany’s long-term energy security,” Saad al-kaabi said in a joint news conference with Conocophillips CEO.
A Conocophillips subsidiary will purchase the agreed quantities to be delivered to the German receiving terminal, which is currently under development.
Europe’s biggest economy, which mainly relies on natural gas to power its industry, aims to replace all Russian energy imports by as soon as mid-2024.
German Economy Minister Robert Habeck said on Tuesday the 15-year term of the deal was “great”.