Qatari Minister of Energy and CEO of Qatar Energy Company Saad Sherida Al-Kaabi speaks at a press conference in Doha on September 1, 2024.
Karim Jaafar | AFP | Getty Images
The Qatari Energy Minister said that he is not very concerned about US President-elect Donald Trump’s pledge to lift the ceiling imposed on liquefied natural gas exports.
“Additional gas will be needed, whether it is from the United States, Qatar or other places,” Saad Sherida Al-Kaabi, Qatar’s energy minister and CEO of state gas company Qatar Energy, told CNBC. “So, we welcome more LNG.” And additional competition. Murphy at the Doha Forum on December 7.
“If you open up LNG and say we are going to export another 300 million tons…or 500 million tons from the United States, all these projects are led by private companies who look at the commercial viability of the projects, and there will be a limit.”
“It will all depend on supply and demand and the long-term expectations of these companies,” he added, saying, “I'm not too worried about that.”
Trump wants to “drill, baby, drill” — in other words, boost domestic oil and natural gas production. His transition team is to gather Reuters reported that an energy package would be rolled out within days after he takes office that would approve export permits for new liquefied natural gas projects and increase oil exploration in the country.
“If you made a decision to own an LNG facility or an export facility, and decided to do so today, it would take six to ten years to actually get it up and running,” he said, stressing that this is not the case. “Turn on, turn off” Move.
The United States and Qatar have stuck to their position The world's largest suppliers of liquefied natural gaswith a combined market share of about 50%. Competition between the two Major exporters have intensified This year after Europe decided to phase out dependence on Russian gas pipelines and with US suppliers quickly filling the supply gap.
Al-Kaabi said that the European Union needs a “comprehensive” review of the agreement Guiding due diligence on corporate sustainability – Which requires large companies to “identify and address” negative environmental impacts, among other things, in their operations.
Al-Kaabi added that the penalty could reach 5% of the company’s total revenues, stressing that it would “harm” European companies and workers in the bloc, which would bear higher costs for completing due diligence.
CSDDD, which will enter into force in 2027, is It is estimated to affect about 5,500 people in the European Union Companies and at least 1,000 non-EU companies with significant business in the region, Reuters reported In July.
Qatar Investment Authority – which manages assets worth $510 billion, according to a report Global sovereign wealth fund He added that other fund managers would consider divesting from the EU to avoid sanctions.
“It is very dangerous for them,” Al-Kaabi said, adding that European economies “are not in a good position, so they need foreign direct investment, and they need support.”
