Germany Signs Energy Supply Contract with Qatar to Reduce Dependence on Russian Energy

Robert Habeck, German Minister of Economic Affairs (left), and Sheikh Tamim bin Hamad Al Thani, Emir of Qatar, are shaking hands.
[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Germany has partnered with Qatar to reduce its energy dependence on Russia, which invaded Ukraine.

According to Bloomberg on the 20th (local time), Robert Habeck, Germany's Minister of Economic Affairs, held talks with Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, in Doha, Qatar, and announced the signing of a liquefied natural gas (LNG) supply agreement. Specific details, including the scale, were not disclosed.

This agreement was made as part of Germany's efforts to diversify its gas supply sources following Russia's invasion of Ukraine. Germany currently sources about 55% of its gas demand from Russia.

Minister Habeck said, "The Emir of Qatar promised more support to Germany. Today, a strong dynamic has emerged between the two countries." In an interview with dpa news agency, he emphasized reducing dependence on Russian gas, saying, "We will need Russian gas this year, but not in the future. This is just the beginning."

Minister Habeck stated that this agreement covers not only LNG but also energy efficiency improvement technologies and the renewable energy sector. The German Ministry of Economic Affairs explained, "Companies that accompanied Minister Habeck to Doha will now begin contract negotiations with the Qatari side." As of last year, Qatar has the world's second-largest LNG production capacity.

European Union (EU) member states have recently been making efforts to mitigate the impact of rising energy prices and reduce dependence on Russia. Austria announced on the same day that it will use 2 billion euros to subsidize energy costs. Italy declared on the 18th that it will reduce taxes on fuel pumps and prevent energy price increases for low-income households.

This content was produced with the assistance of AI translation services.