11/29/2022, 9:27 PM (Source: TeleTrader)
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Scholz greets Germany-Qatar LNG supply deal

German Chancellor Olaf Scholz said on Tuesday that the deal between ConocoPhillips and QatarEnergy on the supply of liquefied natural gas to his country serves as a "building block" for Germany's energy security.

Starting from 2026, Germany is expected to receive 2 million tonnes of LNG per year for 15 years, making up for some shortages prompted by the decline of gas deliveries from Russia and the European energy crisis that followed.

"I am very confident that this is another important building block in a house that we have already built to a large extent," Scholz told reporters. Germany plans to fully replace reliance on the import of Russian energy products by mid-2024.

Baha Breaking News (BBN) / ND