Qatar Energy and ConocoPhillips announced a deal Tuesday to provide up to 2 million tons of LNG annually to Germany for 15 years starting in 2026, Ben writes. Why it matters: The agreement announced in Doha comes as European nations are scrambling to replace reduced Russian gas flows.
Bloomberg points out that while it’s a small share of what Germany once got from Russia, it’s important because “the global LNG market is increasingly competitive” as Europe and Asia compete for cargo.
What’s next: More deals between the Qatar and Germany and their energy companies could be in the offing.
The big picture: The Energy Information Administration has a helpful new primer about European efforts to boost import infrastructure.
- The EU and U.K. are slated to expand import capacity by 34% by 2024 compared to last year’s levels.
- Much of the growth will come via floating re-gasification and storage terminals, including several Germany is developing.
Qatar and Germany ink long-term LNG deal
