LNG: Qatar confirms its economic power in the European Union

The German Minister for the Economy and the Climate visited Doha with the aim of establishing strategic agreements with hydrocarbon-producing countries, including Qatar, in order to secure gas supplies in Europe.

Following negotiations, the two parties signed a long-term contract, i.e. a commitment of 15 to 20 years. This exchange allows Qatar to maintain its leading position in the export of LNG.

?The country pioneers in high-volume, low-cost, long-term LNG delivery for many customers located in Asia. According to data from S&P Global Commodity Insights, it ranks first among the world's LNG exporters, followed by the United States.

?As a result, the peninsula is of great interest to the European Union, which is seeking to diversify its gas supply since the Russian-Ukraine conflict. France, too, intends to work twice as hard by strengthening its economic and diplomatic relations with the country. Qatar therefore holds a central place in this new European configuration.

?Qatar is now planning a gigantic project to extend its offshore field expansion, and thus increase its gas liquefaction capacities from 77 million tonnes per year to 126 million by 2027. It would hold the largest LNG deposit in the world. This new project attracts the attention of the biggest energy companies like ExxonMobil, ENI, Total Energies, Shell and Conoco Philips.