INSEAD Day 4 - 728x90

Economy, Energy

Salik profit slips in H1

The company said traffic recovery supported resilience.

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

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.

[adinserter block="5"]

Most Read

Environment Agency – Abu Dhabi issues marine water quality policy

ABU DHABI,  UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…

Energy, commodity prices hurt profits of GCC firms

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise

Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.

NYU Abu Dhabi team develops wireless pill to control gut neurons

Abu Dhabi, UAE — Researchers at NYU Abu Dhabi (NYUAD) have developed an ingestible device that uses light to activate neurons in the gut. This new technology, called ICOPS (Ingestible…

The future of wellness hospitality: From short escapes to lifelong longevity

In recent years, wellness travel has evolved from a niche pursuit to one of the most dynamic sectors in global tourism. What began as an occasional escape from stress has…

INSEAD Day 4- 300x600
INSEAD Day 4- 300x600
[adinserter block="4"]