DOHA: Qatar’s Energy Minister, Saad al-Kaabi, expressed confidence in Qatar’s ability to handle competition following U.S. President-elect Donald Trump’s pledge to lift caps on liquefied natural gas (LNG) exports. Speaking at the Doha Forum, Kaabi, also the CEO of state-owned QatarEnergy, highlighted that U.S. LNG projects are driven by private enterprises that assess commercial viability.
“Even if the U.S. plans to export an additional 300 to 500 million tons of LNG, these projects are commercially driven,” Kaabi stated. He added that long-term energy projects often transcend government changes, while noting Trump’s pro-business stance.
Kaabi also raised concerns over the European Union’s Corporate Sustainability Due Diligence Directive (CSDDD), which requires companies to address forced labor and environmental impacts in their supply chains or face penalties of up to 5% of global revenue.
“Such penalties could discourage LNG supplies to the EU and impact investment decisions,” Kaabi warned, suggesting that the Qatar Investment Authority and other investors might redirect investments elsewhere if the directive creates unfavorable conditions.
Kaabi emphasized the need for the EU to carefully evaluate the directive’s economic repercussions, particularly as the bloc faces economic challenges and relies on foreign direct investments to stabilize its energy supply and markets.
