Qatari company intends to compete with Nord Stream 2

Qatari company intends to compete with Nord Stream 2
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Qatar Petroleum, the world's largest exporter of LNG, intends to invest in a German terminal for liquefied gas, something that should reduce Berlin's dependence on Russian gas, according to Handelsblatt Global.

Currently, Qatar Petroleum is in talks with German companies Uniper and RWE about the establishment of a terminal for liquefied natural gas in Germany.

“We are very seriously interested in a stake in a German LNG terminal and are talking with both companies — Uniper and RWE,” Saad Al Kaabi, Director General of the Qatari company, said in an interview with Handelsblatt. Two ways of the company’s participation were considered: bear responsibility for part of the facility’s capacity and ensure supplies or become a co-shareholder in the project.

As a reference, Qatar Petroleum is engaged in liquefying gas, its transportation with the use of tankers, and then, upon arrival at the destination, converts it back into gas. The company supplies LNG to France, the Netherlands, China, and other countries, and also owns stakes in British and Italian LNG terminals.

Handelsblatt notes that the initiative of Qatar Petroleum is likely to be the subject of discussions between German utility companies, which intend to continue purchasing Russian gas, for one part, and some politicians who view LNG as a way to reduce Germany's energy dependence on Russia — from the other. It is worth noting that the negotiations are taking place against the backdrop of the start of construction of Nord Stream 2 — a gas pipeline running from Russia to Germany.