Qatari energy minister warns EU: Gas supply at risk amidst new regulations
Qatari Energy Minister Saad al-Kaabi has warned that Qatar may halt gas supplies to the European Union if penalised under new EU regulations. "I'm not bluffing," he stated in an interview with the "Financial Times".
Saad al-Kaabi, speaking with the "Financial Times", highlighted that Qatar might cease gas exports to the EU due to recent regulations.
The concern arises from new EU rules concerning environmental protection and human rights, which could impose 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," al-Kaabi asserted in the interview published on Sunday.
Regulations? "Unfeasible"
The EU directive, effective from July, mandates companies to pursue sustainable development and uphold human rights. Financial penalties may be imposed for any breaches.
Qatar, a major supplier of liquefied natural gas to Europe, maintains long-term contracts with countries such as Germany, France, Italy, and the Netherlands. Al-Kaabi, who also serves as the CEO of QatarEnergy, argues that the regulations are unfeasible for his company.
Criticism of the EU directive
The new regulations have attracted criticism both within the EU and internationally. Member states are required to incorporate them into national legislation by 2026, with full application expected by 2027.
The directive is part of the EU's broader strategy to achieve zero carbon emissions by 2050.
Source: Onet/Financial Times/WP
