Economy, Energy

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Qatar reaches long-term gas supply deal with Germany

The deal with Germany was struck a week after QatarEnergy announced a 27-year agreement to ship four million tons a year to China. (AFP)
By TRENDS Desk AFP
November 29, 2022 5:50 pm
  • QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to the Brunsbuttel LNG terminal
  • Negotiations with European countries had previously struggled as Germany and others balked at signing the type of long-term deals made with Asian nations

Doha, Qatar– Qatar has agreed to send Germany two million tons of liquefied natural gas a year for at least 15 years, officials said Tuesday, as Europe’s biggest economy scrambles for alternative supplies after Russia’s invasion of Ukraine.

With the long-awaited deal, Qatar aims to “contribute to efforts to support energy security in Germany and Europe,” said Saad Sherida al-Kaabi, Qatar’s energy minister and CEO of QatarEnergy.QatarEnergy’s partner, US firm ConocoPhillips, will supply the gas from Qatar’s North Field East and South projects from 2026 to the Brunsbuttel LNG terminal being developed in northern Germany, Kaabi said.Asian countries led by China, Japan and South Korea are the main market for Qatar’s gas, which has been increasingly sought by European countries since Russia’s war on Ukraine threw supplies into doubt.Negotiations with European countries had previously struggled as Germany and others baulked at signing the type of long-term deals made with Asian nations.

The deal with Germany was struck a week after QatarEnergy announced a 27-year agreement to ship four million tons a year to China, saying it was the longest ever seen in the industry.

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