Qatar's Energy Minister has threatened to halt deliveries of liquefied natural gas (LNG) to the European Union if EU countries strictly apply a new European directive, the CSDDD. He spoke to the Financial Times on the subject on Sunday.
From 2027, the Corporate Sustainability Duty of Care directive (CSDDD) will require large companies to ensure that their entire chain of activities does not violate human rights and environmental protection.
Measures will have to be taken in the event of failure to comply with these provisions, at the risk of companies being held liable for any damage caused. A fine of up to 5% of annual worldwide turnover could be imposed on companies that fail to comply with the directive.
Qatar's Energy Minister Saad al Kaabi, who is also the head of state-owned QatarEnergy, told the Financial Times on Sunday that he would stop supplying LNG to the European Union if an EU country imposed a fine on the Qatari company.
"If it turns out that I am losing 5% of my revenue by going to Europe, then I will no longer go to Europe," he said. "The 5% revenue generated by QatarEnergy also means 5% revenue for Qatar.
QatarEnergy is one of the world's largest LNG exporters. Since Russia's invasion of Ukraine in 2022, Europe has become more dependent on liquefied natural gas. Almost a third of the LNG destined for the Zeebrugge port terminal comes from Qatar.
