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FX.co ★ German signs energy deal with Qatar

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Forex Humor:::2022-04-05T14:37:38

German signs energy deal with Qatar

Germany managed to reduce its dependence on Russian gas. The German authorities have struck a deal with Qatar for the supply of liquefied natural gas (LNG). This news was officially announced by Germany's economy minister Robert Habeck. The negotiations took place in Doha. Consequently, Habeck signed a trade agreement with Qatar. Therefore, Germany is likely to reduce its reliance on Russian energy supplies in the near future. "It is great that I can say it was firmly agreed to enter into a long-term energy partnership - cooperation,” Habeck said. However, Germany’s economy minister did not reveal further details about the deal.

According to the Guardian, apart from Qatar, Germany is also in talks with Norway, Canada, and the US. Habeck stressed that the EU needed to diversify its suppliers in the future. The Guardian notes that the EU is likely to benefit from an energy deal with Qatar only in the long term. Currently, it is still dependent on Russian oil and gas. For this reason, the EU will continue to buy Russian commodities even though it may completely abandon them in the near future.


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