Qatari gas supply to EU threatened by new EU regulations
Qatari Energy Minister Saad al-Kaabi warns that Qatar may halt gas supplies to the European Union if it is penalized under new EU regulations. "I'm not bluffing," he said in an interview with the "Financial Times".
Qatari Energy Minister Saad al-Kaabi warned in conversation with the "Financial Times" that his country may halt gas supplies to the European Union.
The reason is the new EU regulations on environmental protection and human rights, which can result in fines of up to 5% of companies' annual revenues.
"If I lose 5% of my revenue supplying Europe [with natural gas], I will not supply it... I'm not bluffing," stated al-Kaabi in the interview published on Sunday.
Regulations? "Unfeasible"
The EU directive, which came into effect in July, requires companies to pursue sustainable development and respect human rights. In the event of violations, financial penalties are possible.
Qatar, as a key supplier of liquefied natural gas to Europe, has long-term contracts with Germany, France, Italy, and the Netherlands. Al-Kaabi, who is also the CEO of QatarEnergy, believes that the regulations are unfeasible for his company.
Criticism of the EU directive
The new regulations have faced criticism both within the EU and outside it. Member States must transcribe them into national law by 2026, and they will be fully applicable in 2027.
The directive is part of the EU's strategy to achieve zero carbon emissions by 2050.
Source: Onet/Financial Times/WP
