Qatar’s energy exports are significantly higher than they were last year. Qatari exports of petroleum gases and other hydrocarbons such as liquified natural gas amounted to $9.2 billion in August of this year, an increase of 100.6 percent, the official Qatar News Agency reports.
Export revenues topped $12 billion in July for the first time since early 2014 and the gains could keep coming.
The increase comes as Qatar is working to export more gas to Europe, as countries on the continent want to reduce their dependence on Russian gas due to the war in Ukraine. The issue is particularly pressing at the moment due to the upcoming European winter when people depend on gas for heat.
Qatar is one of the largest gas exporters in the world along with the United States, Russia, Australia, and some others. Russia provides Europe with around 40 percent of its gas.
Qatar is reportedly close to a long-term deal to export liquified natural gas to Germany.
Qatari gas exports to Europe began increasing earlier this year. The Gulf state’s liquified natural gas exports to European Union member states roughly doubled from March to April of 2022, according to Statista. The Russian invasion of Ukraine began in February.
Moreover, Qatar is not the only Gulf country seeking to boost gas exports to Europe. The UAE also recently signed a gas supply deal with Germany. Under the deal, ADNOC will deliver the gas to a German offshore terminal near the Elbe River in late 2022. There will be more shipments in 2023, the official Emirates News Agency reported.
