Qatar aspires to be a global gas power by making substantial investments in hundreds of vessels capable of transporting liquefied natural gas (LNG), mentioned the energy minister of Qatar on Tuesday.
The Gulf nation strives to build up the greatest fleet of vessels worldwide to export LNG. Saad Sherida Al-Kaabi, the CEO and president of QatarEnergy, mentioned the German daily Bild.
About €20 billion was reportedly invested in the fleet that is being constructed in South Korea and China.
He explained that hundreds of ships would help Qatar secure its place as a global gas power.
Earlier in the day, al-Kaabi reportedly signed a deal with Germany that would annually transport 2 million tons of LNG to the European nation effective from 2026.
This is the first-ever deal to be made in Germany. Germany still lacks an (LNG) terminal. One is being built, he said.
QatarEnergy and Germany’s utility firms had reportedly been involved in several difficult negotiations on an LNG deal for much of 2022 as Berlin considers replacing Russia, Germany’s largest gas supplier.
Germany primarily depends on natural gas for the country’s economy and hopes to substitute Russia’s energy imports by mid-2024.
References: MENAFN, AA