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Germany's Scholtz to Sign LNG Deals with UAE this Weekend

LNG

German Chancellor, Olaf Scholtz heads to the Middle East at the end of the week, in part to sign new energy deals for Germany.

  • German Economy Minister Robert Habeck confirmed this afternoon that Scholz will sign contracts to secure LNG during his trip to the United Arab Emirates at the weekend.
  • Qatar’s multi-billion North Field project is expected to drastically increase the Gulf nation’s liquefaction capacity by 64%, by 2027, some of which will be directed towards Europe to replace Russian volumes.
  • Germany has struggled to sign LNG import contracts with the Qatar in recent months because of discrepancies on price and contract length.
  • The North Field expansion is not a quick fix for Germany’s problems due to it not being ready until at least 2026.
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