Metallurgy / Chemicals / Rubber & Plastics

According to Huacheng Import and Export Data Observation, Qatar Energy and ConocoPhillips signed two sales agreements to export liquefied natural gas to Germany from 2026 for at least 15 years. This is the first such supply agreement reached in Europe by Qatar's northern oil field expansion project.

Saad al Kaabi, chief executive officer of Qatar Energy, said that the agreement would provide Germany with 2 million tons of LNG every year, which would be transported from Ras Laffan in Qatar to the LNG terminal in Brunsbauettel in northern Germany. The import and export data of Huacheng were observed and reported.

Saad al Kaabi said at the joint press conference with ConocoPhillips CEO Ryan Lance that (these agreements) marked the first long-term LNG supply agreement to Germany, with a supply term of at least 15 years, thus contributing to Germany's long-term energy security. Huacheng Import and Export Data Observation reported.

The German Economy Minister said on Tuesday that he was pleased with the 15 year agreement with Qatar to deliver liquefied natural gas to Germany. When answering questions from reporters at a business conference in Berlin, he said that 15 years was great. I will not object to contracts of 20 years or more.

However, he pointed out that Germany plans to achieve carbon neutrality by 2045, setting limits on the amount of natural gas it will receive in the future.

Ju Huacheng's import and export data observation reported that the minister said that if Germany wanted to achieve its ambitious goals, it must reduce its natural gas consumption from the mid-1930s.

The wholly-owned subsidiary of ConocoPhillips will purchase the agreed quantity of goods and deliver them to the German terminal under development on a FOB basis.

Qatar Energy signed five agreements on the North Field (NFE) earlier this year, which is the first of two phases of North Field expansion plans and is also a large-scale one. It includes six LNG production lines, which will increase Qatar's liquefaction capacity from 77 million tons per year to 126 million tons by 2027. Huacheng Import and Export Data Observation reported.