State-owned QatarEnergy is working to expand its gas output as global demand for the commodity grows. But it will not change the flow of deals already contracted from Asia to Europe. The company’s chief executive, Saad al-Kaabi, made the announcement on Tuesday.
Karar keeps the agreed amount of gas to Europe
“Qatar absolutely respects the sanctity of treaties. So when we sign them with Asian or European buyers, we respect it,” al-Kaabi, who is also Qatar’s energy minister, told reporters. “So the volume that will go to Europe, what has been negotiated is valid. But in terms of redirecting Asian contracts to Europe, that is not going to happen,” the QatarEnergy chief added.
The world’s largest LNG trader
The state-owned company, which earlier this year entered into agreements for stakes in its liquefied natural gas (LNG) exploration and production expansion project, aims to become the world’s largest LNG trader, al-Kaabi said.
QatarEnergy is also a major player in the expansion of natural gas production in the North Field project, having signed agreements to sell part of its stake to companies such as TotalEnergies, Shell, Exxon, ConocoPhillips and Eni. “TotalEnergies is a very important partner for us,” al-Kaabi said.
