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LNG: Qatar’s Kaabi Repeats LNG Warning over EU Directive

LNG
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Qatar's energy minister, Saad al-Kaabi, warned that Qatari LNG deliveries to the EU could be affected by the EU's Corporate Sustainability Due Diligence Directive, Platts reported

  • This directive, adopted in July, imposes financial penalties on companies with annual sales over €450 million in the EU if they fail to meet sustainability criteria. Penalties could be up to 5% of a company's global sales.
  • Kaabi told the FT Dec. 22 that if complying with the directive results in a 5% revenue loss, Qatar would stop LNG deliveries to Europe and look towards other markets instead.
  • Kaabi warned that the directive could harm the EU and deter foreign investment.
  • Qatar has supplied 9.9m mt of LNG to the EU this year. QatarEnergy is expanding its LNG production capacity and has a 25-year agreement with the UK for LNG regas capacity. 
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Qatar's energy minister, Saad al-Kaabi, warned that Qatari LNG deliveries to the EU could be affected by the EU's Corporate Sustainability Due Diligence Directive, Platts reported

  • This directive, adopted in July, imposes financial penalties on companies with annual sales over €450 million in the EU if they fail to meet sustainability criteria. Penalties could be up to 5% of a company's global sales.
  • Kaabi told the FT Dec. 22 that if complying with the directive results in a 5% revenue loss, Qatar would stop LNG deliveries to Europe and look towards other markets instead.
  • Kaabi warned that the directive could harm the EU and deter foreign investment.
  • Qatar has supplied 9.9m mt of LNG to the EU this year. QatarEnergy is expanding its LNG production capacity and has a 25-year agreement with the UK for LNG regas capacity.