As Russian gas supplies have gone dry since August, Germany signed a new 15-year sales and purchase agreement on Tuesday with QatarEnergy.
QatarEnergy signed a 15-year sales and purchase agreement with a German oil firm set to start in 2026.
"[The agreements] mark the first ever long-term LNG supply agreement to Germany with a supply period that extends for at least 15 years, thus contributing to Germany’s long-term energy security," said Qatar Energy CEO Saad Al Kaab in a joint news conference with his German counterpart. Following Russia's February invasion of Ukrainian territory, Moscow cut key gas supply lines to European countries that sanctioned Russia and supported Ukraine via military aid. Germany was thrown into a fueling inflation and energy crisis because more than half its gas came from Russia at the time. The gas supply to Germany officially shut down in August, forcing the European state to find new suppliers going into winter.
Moreover, the majority of Germany's current supply of gas comes from more European-friendly states such as Belgium, Norway and the Netherlands. Germany is also building five liquefied natural gas terminals to prevent a short-term energy crunch.
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