Qatar insists on a long-term gas contract with the European Union

Qatar may require the EU to sign a long-term contract for 20 years for the supply of liquefied natural gas, Bloomberg reports citing sources.

The Middle Eastern state is using the recent US-German LNG deal as an argument in negotiations, the agency's interlocutors say. In addition, the position of Qatar is strengthened by the desire of Europe to abandon Russian fuel. This could turn the country into a key supplier, helped by multibillion-dollar investments in increased production over the next five years.

Bloomberg clarifies that Qatar's demands are seen as too "harsh" in Europe because they give buyers little redirection of supplies, unlike deals with the United States.

In addition, the parties have not been able to agree on the terms of the contract since March, as the Europeans insist on a shorter period in order to achieve pollution reduction goals.

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Author`s name: Petr Ernilin