His Excellency Engineer Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Energy, revealed Qatar’s position on shipping gas to the European Union in the event of the imposition of a new law related to imposing fines on international companies.
His Excellency said – during an interview with the Financial Times newspaper, published today, Sunday – that Qatar will stop shipping gas to the European Union if its member states strictly impose a new law related to labor and the environment.
Al-Kaabi added to the newspaper: “If it involves losing 5 percent of the revenues I achieved due to (selling) to Europe, then I will not sell to Europe. I am serious about that. 5 percent of (Qatar Energy) revenues means 5 percent of the country’s revenues.” Qatar, this is the people’s money, so I cannot lose such money, and no one will accept losing such money.”
Al-Kaabi pointed out that the European Union must review this law comprehensively.
Under a law on due diligence and corporate sustainability approved this year, large companies operating in the European Union are required to check whether their supply chains are causing environmental damage, and to take action if they find this to be the case. Penalties include fines of up to 5 percent of total global revenue.