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Qatar threatens Europe with halting LNG supplies

Photo: ceep.be (pictured)

This will happen if QatarEnergy faces fines due to the EU’s corporate sustainability due diligence directive.

Qatar has threatened to cut off the supply of liquefied natural gas (LNG) to Europe. This is what Qatari Energy Minister Saad Sherida al-Kaabi said, reports the Financial Times.

This will happen if QatarEnergy faces fines due to the EU’s corporate sustainability due diligence directive, he said.

If it gets to the point where I’m losing 5% of my income going to Europe, I’m not going there. I’m not flattering. 5% of generated revenue of QatarEnergy means 5% of generated revenue of the State of Qatar. It’s people’s money, so I won’t lose that kind of money – and no one will let it go,” said Sherida al-Kaabi.

The Corporate Sustainability Due Diligence Directive, approved this year, requires large companies operating in the EU to check whether their supply chains use forced labor or harm the environment and take action if they do. Penalties include fines of up to 5% of global turnover.

Qatar, one of the world’s largest LNG exporters, plans to expand its liquefaction capacity to 142 million tons per year by 2027 from 77 million tons.

We remind you that Germany has banned ports from receiving tankers with Russian gas.

Ukraine may receive American gas instead of Russian


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Source: korrespondent

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