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%, the official Qatar News Agency reports.
Why it matters: 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 reportedly close to a long-term deal to export liquified natural gas to Germany.
Qatar is one of the biggest natural gas producers in the world, along with the United States, Russia, Australia and some others.
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.
Know more: Qatar is not the only Gulf country seeking to boost gas exports to Europe. The United Arab Emirates also recently signed a gas supply deal with Germany.