Qatar and the US urge EU to reconsider sustainable rules for LNG Trade

QatarEnergy released a statement on Wednesday stating that the U.S. and Qatar have sent a letter to EU leaders expressing their deep concern about corporate sustainability regulations and their possible impact on LNG exports.

Qatar's Energy Minister, Saad Al-Kaabi said last week that Qatar would not be able do business with the EU and supply Europe with LNG in order to fill its energy gap if it did not make further changes to its Corporate Sustainable Due Diligence directive (CSDDD).

In a letter signed by Kaabi, the U.S. Energy Secretary Chris Wright, and Kaabi, the directive was described as "posing a significant threat to the affordability and reliable supply of energy for homes and businesses in Europe, and an existential danger to future growth, competition, and resilience of EU's Industrial Economy."

EU regulation requires large companies operating in EU to fix any human rights or environmental issues within their supply chain, or else face financial penalties.

The European Parliament's Legal Committee met last week

Backing plans

Kaabi says that despite the pushback of companies, the changes made to the law did not address the key concerns. (Reporting and editing by Himani Sarkar, Kim Coghill and Ahmed Elimam)

(source: Reuters)