On Friday, Germany and Qatar signed an agreement to develop their partnership in the energy field, as part of a visit by the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, to Germany as part of a European tour.
The Qatari Minister of State for Energy Affairs Saad bin Sherida Al Kaabi signed the agreement with German Economy Minister Robert Habeck, which provides for regular meetings between the two sides and the establishment of a working group focused on developing commercial relations in the field of liquefied natural gas and hydrogen, in addition to a group specialized in renewable energy.
According to the Qatar News Agency, this agreement is based on the successful and continuous dialogue between Qatar and Germany, as it is expected to develop into an energy partnership by building commercial relations in the field of liquefied natural gas that serve the interests of both countries.
This partnership is expected to enhance the diversification of Germany's energy supply through imports of LNG from Qatar, and facilitate bilateral cooperation in hydrogen energy and renewables.
Countries will also benefit from extensive knowledge exchange regarding the transition to low-carbon energy through the increased use of renewable energies.
The agreement is the culmination of the ongoing dialogue between the two countries, which covers a number of important issues related to energy.
Germany aims to diversify its gas supplies by importing liquefied natural gas to enhance its energy security during the transition period towards carbon neutrality.
Qatar and Germany sign a partnership agreement in the field of energy.
# Qena # HH The Emir's European Tour # Qatar # Germany
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Organized meetings
It is expected that the two countries' ministers will hold regular meetings in Germany, and the two sides will work on drawing up a road map for the energy partnership that defines the structure and procedures for bilateral cooperation, including the formation of two working groups.
A working group on liquefied natural gas and hydrogen will develop trade relations between Qatar and Germany in these two areas, and will also provide a platform for dialogue on issues related to critical infrastructure and regulatory matters.
A working group on Renewable Energy, Energy Efficiency and Demand Management will also work to expand renewable energy capabilities including issues of infrastructure and electricity markets, and will provide a platform for dialogue on necessary framework conditions, infrastructure development, and technology.
It will also facilitate the exchange of energy efficiency solutions that contribute to decarbonizing the construction, transportation and industrial sectors.
Minister of Trade and Industry to Qena: Germany is one of the most important investment destinations for the State of Qatar.# Qena # HH The Emir's European Tour # Qatar # Germany https://t.co/zr68ttogxj pic.twitter.com/BvbWafSsme
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Strong growth of trade exchange between Qatar and Germany
For his part, the Qatari Minister of Commerce and Industry, Sheikh Mohammed bin Hamad bin Qassim Al Thani, stressed the depth and strength of trade and investment relations linking the State of Qatar with Germany.
The Qatari minister indicated that the volume of trade exchange between the two countries grew by 79%, and amounted to about $3 billion during the past year.
He explained that there are about 331 German companies in the Qatari market, working in several fields, including railway development, trade, contracting, services, communications, roads and infrastructure.
The Qatari minister added that Germany is one of the most important investment destinations for the State of Qatar.
Where important investments were directed towards a group of German sectors, which varied between the automotive industry, telecommunications, hospitality, banking, and other important sectors.
The authorities concerned with economic affairs estimate the volume of Qatari investments in the Federal Republic of Germany at about 25 billion euros, which include important sectors in the German economy, such as the automobile sector, energy and micro-technologies.
The figures show that Qatar owns stakes in the most important German commercial and banking groups, as it is the largest shareholder in the giant Volkswagen Group, with a stake of $9 billion, in addition to Siemens and other operating German companies. in technology, shipping and the pharmaceutical industry.