After QatarEnergy and ConocoPhillips (COP.N) on Tuesday inked two sales and purchase agreements for its export covering at least a 15-year period, Germany is expected to begin receiving additional flows of Qatari liquefied natural gas (LNG) in 2026.
Since Russia’s invasion of Ukraine in February, there has been fierce rivalry for LNG, as Europe needs a significant amount to help replace Russian pipeline gas, which accounted for roughly 40% of the continent’s imports before.
According to QatarEnergy’s CEO, the agreement, the first of its kind from Qatar’s North Field expansion project to Europe, will provide Germany with 2 million tonnes of LNG annually. The LNG will travel from Ras Laffan in Qatar to Germany’s northern LNG terminal of Brunsbuettel.
In a joint press conference with ConocoPhillips CEO Ryan Lance, Saad al-Kaabi remarked, ‘The agreements mark the first ever long-term LNG supply agreements to Germany, with a supply period that continues for at least 15 years, thus contributing to Germany’s long-term energy security.’
The agreed upon amounts will be purchased by a ConocoPhillips subsidiary and transported to the currently under construction German receiving terminal.
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