"Qatar is really committed to the contract. So when we sign (contracts) with an Asian buyer or a European buyer, we stick to that deal. So the volume that's going to Europe is what's set. We're not going to take from the Asian buyer for sent to Europe, that's not going to happen," Al-Kaabi said
Through its joint ventures with Qatar Energy, ConocoPhillips holds a 3.125% interest in the NFE project and a 6.25% interest in the NFS project. The company has agreed to terminal services for a 15-year period at the German LNG Terminal (ConocoPhillips, 2022).
The five import facilities leased by the German government will cost a total of 6.5 billion (US$6.7 billion) over the next 10 to 15 years. Once operational, they will be able to meet about a third of Germany's current gas demand (Larasati, 2022)
German has been one of the countries most critical at the World Cup of Qatar's treatment of LGBTQ people, as well as the labour conditions of workers building the football stadiums. But the economics minister Robert Habeck, a Green party member, has also said that, faced with a need to wean itself off Russian gas supplies, German has to take its energy from a variety of sources.
Habeck visited Doha in March, but disputes over the length of the contract delayed an agreement, with Qatar preferring a 25-year contract and Germany seeking something much more short term. He said on Tuesday: "Fifteen years was great. They look like good conditions to me." (The Guardian, 2022)
As is generally known, the majority of the EU's natural gas is supplied by only three external producers: Russia, Norway, and Algeria. Russia is by far the largest gas supplier to the continent, contributing 37.7% of the total gas imported by the EU 27 in 2005. In general, the dependence on Russian gas imports increases the further east one travels in Europe, to the point that seven former Warsaw Pact and Soviet Union member states in Europe import more than 99% of their natural gas from Russia. Nearly all of the nations in Central and Eastern Europe rely on Russia for the majority of their natural gas needs. Other suppliers of gas (apart from Russia) to the EU are Norway (over 22% of imports in the first half of 2022) and Algeria (over 10% in the first half of 2022). LNG accounted for over 25% in the first half of 2022 - mainly from the US, Qatar and Nigeria (European Council, 2022)
In 2021, the EU imported 83% of its natural gas. Since Russia's invasion of Ukraine, gas imports from Russia to the EU have been significantly reduced. This has mainly been compensated for by a sharp increase in imports of liquified natural gas (LNG), particularly from the US.
And now, Russia has stopped the flow of gas in a pipeline carrying gas to Europe. Moscow previously reasoned that the stoppage of the flow of the gas pipeline was only due to 10 days of maintenance to Nord Stream 1. However, this made European countries concerned. This is because stopping the flow of Russian gas through Nord Stream 1 could threaten Europe with a gas crisis. Because as you know, the Nord Stream 1 Pipeline transports 55 billion cubic meters (bcm) of gas per year from Russia to Germany under the Baltic Sea.
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.
Previously, Ukrainian President Volodymyr Zelenskyy also gave a warning to Europe. He said the continental group needed to prepare for the possibility that Russia cut gas supplies. "Russia has never played by the rules in energy. It will not play unless it shows its strength," Zelenskyy said (CNBC, 2022)
However, after the signing of the agreement, the European side had to face a threat from Qatar that they would withhold gas exports to the European continent. The choice was made as Belgian authorities were looking into claims of corruption at the European Parliament (EP) in Brussels. Several media outlets have reported that Qatar is complicit in the wrongdoing. Belgium therefore decided to restrict Qatar's interaction with the organization as a result. Qatar were irate as a result.
