Qatar has issued a bold warning to the European Union: impose harsh penalties on our energy exports, and we’ll cut off your gas supply. This dramatic announcement came from Qatar’s Energy Minister, Saad al-Kaabi, during an interview with the Financial Times.
The Gulf nation has become a critical supplier of liquefied natural gas (LNG) to Europe, especially after the EU started distancing itself from Russian gas due to the Ukraine conflict in 2022. But now, a clash over the EU’s new climate regulations could threaten this partnership.
What’s the Issue?
The EU introduced the Corporate Sustainability Due Diligence Directive in May 2023 as part of its plan to achieve net-zero emissions by 2050. This law forces companies to comply with strict environmental rules, with penalties for non-compliance reaching up to 5% of their total annual revenue.
For Qatar, these penalties are no small matter. QatarEnergy, the state-owned energy company, plays a massive role in funding the co...
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