Agreement between Germany and Qatar on gas. While in the European Union the Member States are still unable to reach an agreement on the price cap, the various countries are moving in no particular order to secure supplies, avoid rationing in the winter months and reduce their dependence on Russia as much as possible. And it is in this context, while the energy crisis unleashed by the Russian invasion of Ukraine is raging, that Germany has signed an agreement with Qatari supply of liquefied natural gas (LNG) of 15 years.
The agreement between Germany and Qatar
As expected, the Gulf country – which thanks to its huge oil fields he also managed to finance the maxi organization of the soccer world cup 2022, investing 220 billion – will provide “up to 2 million tons of LNG per year” at the gas terminal under construction in Brunsbuettel, in northern Germany, starting from 2026. The announcement was made during a press conference by Qatar's Energy Minister, Saad Sherida Al-Kaabi. With this agreement, he explained, Qatar intends “to contribute to the efforts to support energy security in Germany and in Europe".
Italy: goodbye to Russian gas in 2025, but 4 regasification terminals are needed
In the meantime, in Italy, the CEO of Eni, Claudio Descalzi, during the "Lombardy 2030" event, spoke about what awaits our country in the near future. According to the manager, the russian gas swill be completely replaced in 2025.
"We immediately started looking for diversification in February based on what we had in portfolio in Africa, the Middle East, the Far East and the USA", he said, adding that "The problem has been solved because we are able to cover 50% of Russian gas of 21/23 billion cubic meters e in 2025 100% will be replaced".
“2023 will be a complex year – he continued – because we will have the 6/7% Russian gas and we will have to be able to count on the LNG that will arrive by ship”. “Infrastructures are needed – she underlined – to create an offer that exceeds the demand”.
"SAt least four more regasification terminals are needed to achieve energy security with an overabundance of gas,” Descalzi clarified. “Spain consumes 30 billion cubic meters of gas a year and has 60 billion cubic meters of regasification. While countries like Austria and Slovakia consume around 5 billion cubic meters of gas and have the same storage capacity, not regasification. Therefore Italy needs to increase its regasification capacity, but also to increase storage by at least 6-7 billion“, He concluded.
Meanwhile, on the Piazza Ttf of Amsterdam, natural gas futures contracts for the month of December rose by 0,23% to 123,5 euros per MWh.
Italy and the EU already have agreements for the import of gas from Qatar. France is also at stake
The gas routes are endless and Europe has long since set its sights on gas from Qatar. The state company QatarEnergy announced last March that it had opened the field North Field East, an off shore project that the Qatar shares with Iran, in the northeast of Persian Gulf, to the collaboration with a group of western operators. The largest share will go to the French company Total, which will have 6,25 percent of the new expansion area. This means that at France most of the supplies destined for Europe will go. But it won't be the only one: even if it hasn't been formalized yet, so will the group Eni will be part of the consortium that will have to develop the field, together with the Anglo-Dutch Shell and to American big oil ExxonMobil e Conoco-Philips. According to the agreements, according to what Reuters had anticipated, about half of the new gas extracted will go to Asia while the remaining half would be destined for Europe.
The regasifier Adriatic Lng of Rovigo has already had an agreement with Qatargas for years to receive up to 6,5 billion cubic meters of gas per year, through a contract signed with Edison. Adriatic Lng is approximately 70 percent owned by ExxonMobil Italiana Gas, 7,3 percent by Snam and 22 percent by Qatar Terminal Company Limited. The former Minister of Ecological Transition Roberto Cingolani recently authorized the increase in the site's regasification capacity, which will be brought from the current 8 to 9 billion cubic meters per year.
Finally, Snam: the company has recently announced the purchase of a ship which also performs functions of LNG storage and regasification. As for Saipem, last October, was awarded a contract by Qatargas for a value of approximately 4,5 billion dollars in the context of the North Field East development. The contract comprises the engineering, procurement, fabrication and installation of two deepwater natural gas compressor complexes to support production from the North Field (Qatar) field. The works, according to Saipem, include “two of the largest steel jacket compression platforms ever built, interconnecting bridges, accommodation and interface modules”.
