Germany to get new Qatari LNG flows

Long-term agreement will provide two million tonnes LNG annually to Germany


Reuters November 30, 2022
The LNG price has skyrocketed 1,900 per cent from its tariff two years ago. PHOTO: FILE

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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.

Since Russia’s invasion of Ukraine in February, 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% 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 two million 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 Ryan Lance.

A ConocoPhillips subsidiary will purchase the agreed quantities to be delivered to the German receiving terminal, which is currently under development. 

COMMENTS (1)

Zahid Qadeer | 1 year ago | Reply This would be indirectly beneficial for Pakistan as customers of LNG for Russia gas reduced substantially after earlier long term deal of Qatar-China deal besides this. Hence Pakistan should g for Russian long term LNG deal rather than only Petroleum products imports for which Russia would not longer be interested due to USA price cap. The time is for wise decision by Pakistani thinktank.
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