Qatar stops supply

EU rules threaten new gas price explosion!

The EU supply chain law threatens a shortage of gas in Europe and significantly higher prices.(Bild: AFP/SERGEI SUPINSKY)

First the increase in gas network costs next year and now this: Qatar reportedly wants to stop the supply of liquid gas to the EU. This would make the gas bill even more expensive. The reason for this is the planned EU supply chain law, which stipulates high standards, verification requirements and otherwise penalties for suppliers. Economics Minister Hattmannsdorfer and OMV CEO Alfred Stern are calling for a quick rethink.

At ADIPEC in Abu Dhabi, one of the world's most important trade fairs for the oil, gas and energy industry, Qatar's Energy Minister Saad al-Kaabi made it clear on Monday: "If Europe does not relax these rules or even repeal them, then we will definitely no longer supply Europe with energy."

Economics Minister Hattmannsdorfer: "This is alarming!"
"This is alarming," says Economics Minister Wolfgang Hattmannsdorfer, who is currently in Abu Dhabi with a business delegation. "If entire countries are now turning their backs on Europe, it shows the danger we are running into with the over-bureaucratization in the EU. It makes doing business impossible."

Even higher gas prices would ultimately make production in Europe even more expensive. Hattmannsdorfer: "We are seeing that companies are increasingly outsourcing production facilities. That should wake us up. We finally need to focus on competitiveness again. We have to stop driving the economy and jobs out of Europe!"

The EU Supply Chain Act threatens a shortage of gas in Europe and significantly higher prices.(Bild: AFP/SERGEI SUPINSKY)

OMV CEO Stern echoes this sentiment, warning against stopping gas supplies from Qatar: "We need access to various supply markets. Qatar is the second largest LNG producer in the world after the USA and we have to keep all possible access to gas open if we want to bring the gas price down."

OMV CEO Stern warns: "Without energy, our prosperity will decline."
Stern also appeals to the EU to reconsider the planned supply chain law: "We must remain pragmatic now, because if we lose access to competitive energy, our prosperity will also decline." The OMV boss also insists that Europe should once again produce more gas itself. But even then, "we will remain a net importer".

Economics Minister Wolfgang Hattmannsdorfer (left) and OMV CEO Alfred Stern appeal to the EU to reconsider the planned supply chain law.(Bild: BMWET / Enzo Holey)

Double threat: Now the USA is also putting pressure on us!
In addition to Qatar, the USA is already threatening to stop deliveries of liquefied natural gas to the EU. OMV CEO Stern: "If the Supply Chain Act goes through, there is a risk that other market participants will also no longer want to supply Europe."

Minister Hattmannsdorfer wants to personally advocate a relaxation of the regulations: "We have always said that the supply chain regulations in Europe are excessive. Negotiations are still scheduled. I believe that the statement by Qatar's energy minister must be a wake-up call for all political decision-makers in Brussels. Because if the tanker from Qatar no longer docks in Europe, we will have a huge problem."

The consequences would be devastating, especially as Russian gas is also sanctioned: it would lead to a shortage of gas in Europe and therefore to higher prices. According to Hattmannsdorfer, there is an urgent need for action: without a rapid rethink in the EU, "Europe will die in beauty".