Natural gas producers must clearly oppose trade barriers and discriminatory measures, Qatari Energy Minister Saad al-Kaabi said during a meeting of the Gas Exporting Countries Forum (GECF) in Doha, reports „Reuters“, quoted by BTA.
Al-Kaabi sharply criticized the new European law on corporate sustainability (CSDDD), adopted by the EU in 2024. The law requires large companies operating in the EU to ensure that there are no human rights violations or environmental damage in their supply and value chains. Violators could be fined up to 5% of their global turnover.
According to the Qatari minister, the law poses a real threat to the state-owned company QatarEnergy and could put into question long-term supplies of liquefied natural gas (LNG) to Europe.
"There is no way we can supply gas to a country that would impose a fine of 5% on our global turnover. This is impossible," Al-Kaabi told journalists.
"We do not want to interrupt supplies to Europe - that is why we have been warning from the very beginning. I was one of the first to speak out about this," he added.
Call for review of rulesThe minister stressed that the EU must review the law if it wants to maintain stable energy relations with its main suppliers. The statement comes a day after the European Parliament agreed to consider changes to sustainability rules following pressure from Qatar and the United States - the world's two largest natural gas exporters.
Optimism for the global gas marketAt the same time, Al-Kaabi expressed optimism about the future of the global natural gas market, including LNG, despite geopolitical tensions and uncertain climate policies. He said growing energy demand in Asia and the boom in data centers and artificial intelligence will continue to keep global demand for natural gas high.