German minister satisfied with 15-year LNG deal with Qatar

November 29, 2022 08:39 PM AEDT | By Reuters
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BERLIN (Reuters) -German Economy Minister Robert Habeck said on Tuesday he was happy with the 15-year term of a deal struck with Qatar to deliver liquefied natural gas (LNG) to Germany.

"Fifteen years is great," Habeck told a business conference in Berlin in response to a reporter's question. "I wouldn't have had anything against 20 (years) or longer contracts."

However, he pointed to Germany's plan to become carbon-neutral by 2045, placing limits on the quantities of gas the country would receive in the future.

Germany will have to start reducing its gas consumption from the mid-2030s if it wants to meet its ambitious goal, the minister said.

QatarEnergy and ConocoPhillips on Tuesday signed two sales and purchase agreements to export 2 million tonnes LNG annually to Germany for at least 15 years from 2026, as Berlin seeks new energy partnerships following a plunge in gas supply from Russia.

The LNG is to be delivered to a planned LNG terminal in Brunsbuettel.

Habeck did not provide further details on the agreement.

He said Germany would purchase the most favourable offers on the world market. "That includes Qatar, but it's also not the only supplier on the world market," he added.

(Reporting by Rachel More and Christian KraemerEditing by Madeline Chambers)


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