November 30, 2022

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Scholz is the only gas tanker to travel to Qatar

with A lot of fanfare A trip to Qatar was announced by Chancellor Scholes and Economy Minister Habeck – but the outcome in terms of gas supply was dire!

Gas: Scholes and Habeck in Qatar – bad result

Qatar apparently has clear ideas about prices and is particularly keen on long-term contracts – so Scholz and Habeck’s hopes that Qatar can deliver quickly and in large quantities may have been illusory from the start. According to the CEO of the energy group, others looking to buy gas from Germany and Qatar cannot expect supplies to be flexible, cheap and work without long-term contracts. recently warned. Qatar is different from Germany Big winner Gas Crisis – Desert State Can Choose Buyers and Prices!

President Olaf Scholes has received a single shipment of LPG from the UAE, as Europe’s biggest economy struggles to replace Russian supplies, as a non-binding deal was reached on more exports, Bloomberg reported.

The cargo – 137,000 cubic meters – will be delivered by Abu Dhabi National Oil Company to German energy supplier RWE AG in early 2023. ADNOC also signed a letter of intent for delivery next year. A subsequent trip to Qatar did not immediately lead to additional contracts.

After the Kremlin shut down a key pipeline, securing additional supplies is critical for Germany. Officials are increasingly worried about power outages and rationing this winter, and the economy is headed for recession. The deal, announced on Sunday, shows how difficult it will be for the country to get more gas in the future.

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“We need to ensure that the alliance for liquefied natural gas in the world is advanced enough to meet the high demand,” Scholz said in Abu Dhabi.

Germany does not want long-term contracts on the current expensive terms

The comments came a day after Scholz visited Saudi Arabia, where he met with the OPEC kingdom’s crown prince for talks on future cooperation and hydrogen imports. These issues are more important to long-term security than the shortages of approaching winter.

After the UAE, Sholes traveled to Qatar, where he wanted to discuss long-term plans for gas and hydrogen supplies with the country’s emir. Germany and Qatar have been negotiating LNG supplies for months, with Germany reluctant to sign long-term contracts at LNG prices.

Scholz issued a statement after the meeting with Qatar in which he made no mention of gas supply agreements. Qatar’s energy minister said on Saturday that talks are underway with RWE and Uniper SE over long-term LNG contracts.

The contract with ADNOC is to deliver LNG to RWE’s floating terminal at Brunsbüttel near Hamburg by the end of December. Germany is currently building floating LNG import terminals, some of which are due to be completed this winter.

ADNOC, fuel distributor Wilhelm Hoyer GmbH & Co. UAE state news agency WAM reported that it has agreed to supply up to 250,000 tonnes of diesel per month by 2023 with KG. The energy company delivered diesel directly to Germany for the first time in September.

Separately, Abu Dhabi-based Masdar will further pursue wind energy opportunities in Northern Europe and the German Baltic Sea region to increase renewable energy production to 10 GW by 2030, according to WAM.

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FMW/Bloomberg

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