The agreement between Shell and Qatar, signed by Saad Sherida Al-Kaabi, Qatar’s Minister of Energy and CEO of QatarEnergy, and Wael Sawan, CEO of Shell, will ensure gas supplies for years to come
Russia’s failed attempt to “freeze” Europe to force it to abandon support for Ukraine has permanently deprived Gazprom of its biggest market for years to come. Qatar has concluded two large and long-term deals for gas supplies to EU countries, which will replace about 15% of pre-war imports from Russia.
QatarEnergy has agreed with Shell to supply the Netherlands with liquefied natural gas for 27 years. Last week, a similar deal for France was signed with TotalEnergies. Under each of the contracts, Qatar will deliver 3.5 million tons of liquefied gas per year. In practice, Qatar will be able to completely replace the volumes that “Gazprom” supplied through the Yamal-Europe gas pipeline, which was stopped in 2022.
In 2030, European customers will be able to get 27 million tonnes of liquefied gas (37.8 bcm) a year, with 9 million tonnes of that coming from Qatar, Rystad Energy’s Kaushal Ramen estimated.
European countries do not plan to resume cooperation with Russia, even after the end of the war in Ukraine. “These relations have come to an end,” the German ambassador to Britain, Miguel Berger, said on Wednesday. “There will be no going back,” confirmed Britain’s energy minister, Graham Stewart.
Germany, which suffered greatly from the suspension of Russian gas (it covered half of the supplies), in November 2022 also agreed with Qatar to purchase 2 million tons of liquefied gas for 15 years.
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2023-10-21 17:29:07
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