News, Uncategorized

GERMANY LOOKS FOR ALTERNATIVES TO RUSSIAN GAS

Germany has announced a long-term contract with Qatar for the supplies of liquefied natural gas (LNG), as Europe’s biggest economy looks to reduce its energy dependence on Russia.


The move comes amid broader Western sanctions aimed at isolating Russia from global trade and energy markets in response to the country’s military Invasion in Ukraine.



DCO Global News
Published on March 21, 2022
By Odoh Dominic Chukwuemeka



According to Germany’s economy minister Robert Habeck, his country will have to rely on gas supplies from Russia at least for 2022.


“We might still need Russian gas this year, but not in the future,” Habeck was quoted as saying by DPA in Doha.


The minister described the deal as a “door-opener” for his country’s economy since it would reduce Germany’s reliance on Russian gas deliveries, which reportedly account for more than half of its annual supply.


Habeck declined to provide details on the quantities and other terms of the contract, adding that it would be up to individual German energy firms, the heads of which accompanied him on the trip to Qatar.


Qatari authorities welcomed Germany’s decision to “fast-track” the development of LNG terminals, and said in a statement that the countries’ “respective commercial entities would re-engage and progress discussions on long-term LNG supplies from Qatar to Germany”.



By Odoh Dominic Chukwuemeka

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