Al-Sarira
  • Home
  • Saudi Arabia
  • UAE
  • Bahrain
  • Yemen
  • Qatar
  • Afghanistan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Palestine
  • Israel
No Result
View All Result
Al-Sarira
  • Home
  • Saudi Arabia
  • UAE
  • Bahrain
  • Yemen
  • Qatar
  • Afghanistan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Palestine
  • Israel
No Result
View All Result
Al-Sarira
No Result
View All Result

EU-Russia Energy Dispute; Qatar is the Winner!

Nayib AbrahambyNayib Abraham
November 30, 2022
in Economy, Politics, Qatar
0
EU-Russia Energy Dispute; Qatar is the Winner!

Qatar and Germany signed a 15-year agreement on gas shipment to the European country. Photo: AFP

While hosting the most popular sports event, FIFA World Cup, Qatar is hardly busy securing economic interest through energy contrast.

Two buying and selling contracts for the shipment of liquefied natural gas to Germany for one and a half decade beginning in 2026 have been inked by energy companies of the two sides. This will be Qatar’s North Field development program’s very first supply agreement with EU countries.

Two million tonnes of LNG per year will be shipped to Germany thanks to the arrangement. According to QatarEnergy’s CEO, the LNG is delivered from Ras Laffan in Qatar to Germany’s northern LNG port in Brunsbuettel.

In a joint press conference with ConocoPhillips CEO Ryan Lance, CEO Saad Al Kaabi stated that the contract ” reflect the first ever long-term LNG strategic partnerships with Germany, with a supply timeframe that continues for at least 15 years, thereby assisting to Germany’s protracted energy supplies.”

The accord is reached as the financial juggernaut of Europe struggles to find other sources of Russian gas. During the current conflict in Ukraine, the supply was disrupted. The deal’s amount was not disclosed by the officials.

Following Russia’s invasion of Ukraine earlier this year, European nations supported it. In return, Moscow reduced the amount of natural gas available for consumption in industry, home heating, and electricity production. As a result of the process, there is an energy dearth that is causing inflation and putting more pressure on businesses as prices rise.

Since three months ago, Germany has not obtained any LNG from Russia. Before the war, Russia supplied more than half of the country’s gas demands. The agreed-upon amounts will be purchased by a ConocoPhillips wholly-owned subsidiary and sent to the German receiving port.

Energy Crisis

German Economy Minister said at a business event in Berlin, “15 years is wonderful.  I wouldn’t have objected to contracts lasting 20 years or more.”

He did, however, mention Germany’s intention to achieve carbon neutrality by 2045. The regulation sets restrictions on the amount of gas that the nation will be able to import in the future.

If Germany is to achieve its lofty climate change objective, it must begin lowering its gas usage by the middle of the 2030s.

Germany’s efforts to avoid a short-term energy crisis also involve briefly restarting ageing coal- and oil-fired power plants. Additionally, it implies that the nation’s final three nuclear power facilities will operate until mid-April. By the end of 2022, they were expected to be turned off.

The deal was concluded just a few days after QatarEnergy and Sinopec in beijing inked a 27-year buying and selling contract. The North Field is a portion of the largest gas field in the world, South Pars, which Qatar and Iran jointly own.

Five contracts for North Field East (NFE), the first and largest portion of the two-phase North Field development plan, were signed by QatarEnergy months ago. It has six LNG trains, increasing Qatar’s ability to liquefy 126 million tonnes annually in five years from 77 million.

Since Russia invaded Ukraine less than 10 months ago, there has been fierce rivalry for LNG. S pecifically, Europe needs a lot to help restore the over 40% of Russian pipeline gas that the region used to buy. Al Kaabi stated few days ago that talks for additional supplies were still continuing on with other German businesses.

Tags: Gas AgreementGermanyNorth FieldQatarQatar-Germany

Related Posts

Ukraine’s President Proposes Heavy Sanctions Against Iran
Politics

Ukraine’s President Proposes Heavy Sanctions Against Iran

May 30, 2023

Based on his claims that Iran is sending drones to Russia to be used against Ukrainians, Ukraine’s President Vladimir Zelensky...

Hunger Still Dominant in Yemen, UN New Report Says
Politics

Hunger Still Dominant in Yemen, UN New Report Says

May 29, 2023

The United Nations said this Friday in a new report that despite food security has slightly improved in Yemen, it...

When Politics Overshadows Human Rights Concurs; Canada Resumes Ties with Saudi Arabia
Politics

When Politics Overshadows Human Rights Concerns; Canada Resumes Ties with Saudi Arabia

May 26, 2023

Canada announced resuming relations with Saudi Arabia this Wednesday despite the fact that human rights issues are still worrying in...

Iran Has Successfully Tested a New Ballistic Missile, Iranian State Media Says
Politics

Iran Has Successfully Tested a New Ballistic Missile, Iranian State Media Says

May 25, 2023

According to Iran’s state media, the Islamic Republic has conducted a successful launch of a new ballistic missile this Wednesday,...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR POSTS

  • “Natural Deaths” in Unnatural Condition; International Community Pushes Qatar for Clarification on Workers’ Deaths

    “Natural Deaths” in Unnatural Condition; International Community Pushes Qatar for Clarification on Workers’ Deaths

    0 shares
    Share 0 Tweet 0
  • A Chronology of Syrian Civil War; Part 1: Arab Spring or Saudi Strings?

    0 shares
    Share 0 Tweet 0
  • Iraq’s disappointment about US Withdrawal: ‘Attacks against US Forces Escalates’

    0 shares
    Share 0 Tweet 0
  • ‘Jihad Al-Tabyeen’, A Vital Task in the Modern World; Hassan Nasrallah

    0 shares
    Share 0 Tweet 0
  • US Grants Immunity for Saudi’s Bin Salman in Khashoggi’s Murder Case

    0 shares
    Share 0 Tweet 0

Next Post
IDF Killed Three Palestinians in the Occupied West Bank

IDF Killed Three Palestinians In the Occupied West Bank

al-sarira
Contact Us
About Us

© Copyright 2021 - All rights reserved

No Result
View All Result
  • Home
  • Saudi Arabia
  • UAE
  • Bahrain
  • Yemen
  • Qatar
  • Afghanistan
  • Iran
  • Iraq
  • Syria
  • Lebanon
  • Palestine
  • Israel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.