Germany Signs Long-Term LNG Supply Contract with Qatar Amid 'Energy Crisis'

200 Million Tons of LNG Over 15 Years Starting from 2026

Germany, experiencing an energy crisis due to Russia's gas supply cut-off, will receive liquefied natural gas (LNG) from Qatar. [Image source=Reuters Yonhap News]

[Asia Economy Reporter Oh Gyumin] Germany, which is experiencing an energy crisis due to the suspension of gas supplies from Russia, will receive liquefied natural gas (LNG) from Qatar. As a result, Germany will receive 2 million tons of LNG annually for 15 years starting in 2026.

According to Germany's Bild on the 29th (local time), Qatar Energy, Qatar's state-owned energy company, signed a long-term gas supply contract with the U.S. energy company ConocoPhillips to supply LNG to Germany for 15 years starting in 2026.

ConocoPhillips plans to transport the LNG supplied from Qatar to Brunsb?ttel, a port city on the Elbe River where the North Sea and the Baltic Sea meet, and supply it to Germany.

Saad bin Sherida Al-Kaabi, Qatar's Minister of Energy, held a press conference and emphasized the relationship with the German government, stating, "This is an obligation to the German people," according to Germany's Bild.

The German government is responding to the suspension of Russian gas supplies by securing LNG supply. For this purpose, German Chancellor Olaf Scholz and Vice Chancellor and Minister for Economic Affairs and Climate Action Robert Habeck are reported to have been negotiating with Qatar for several months.