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German utilities seek to finalize 15-year gas deal with Qatar

German utilities seek to finalize 15-year gas deal with Qatar

ArabFinance: German utility companies RWE and Uniper are finalizing a long-term deal to buy liquefied natural gas (LNG) from Qatar’s North Field Expansion project to replace the shortage in gas supplies from Russia, Reuters reported on September 20th, citing informed sources.

Sources said the negotiations were more constructive than those held a few months ago and the deal’s term could reach 15 years.

Uniper stated that they had not reached a deal, while RWE described its talks with Qatar as “good and constructive”.

Germany is trying to mitigate the impact of the suspension of Russian gas supplies through Nord Stream 1.

However, the North Field Expansion Project is not anticipated to start production before 2026.

On September 2nd, Russian gas producer Gazprom announced that gas supplies to Germany have been halted due to a gas leak.

 

 

 

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