Qatar is hopeful that the EU will solve corporate concerns about sustainability laws within a year.
Qatar's Energy minister Saad Al-Kaabi stated on Saturday that he hoped the European Union will resolve concerns about its sustainability laws before the end of December.
Qatar has expressed its dissatisfaction with the EU Corporate Sustainability Due Diligence (CSDDD), and has threatened gas supply.
The dispute revolves around CSDDD’s ability to fine violators as much as 5% of their total global revenue. Qatar will not meet its net-zero emission targets, the minister has said repeatedly.
Kaabi predicted that global gas demand will remain strong. He cited the rising energy demands from artificial intelligence and projected that LNG consumption would reach 600-700 millions tonnes per year by 2035.
He said that the demand for gas would not be an issue in the future. The energy required to power AI was a major driver.
The North Field project will produce 126 mtpa of LNG at full production. This is an 85% increase in QatarEnergy’s current output.
He said that the first train of Golden Pass LNG in Texas, its joint venture company with ExxonMobil, should be online by the first three quarters of 2026.
Al-Kaabi stated that oil prices between $70 and $80 per barrel would allow companies to invest in their future energy needs. Prices above $90 would not be acceptable.
He warned that a bubble in real estate could form in the Gulf due to too much construction. (Reporting and editing by Aidan Lewis, Bernadettebaum and Bernadette Mills)
(source: Reuters)
