Germany is intensifying its search for LNG suppliers around the world

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Germany’s RWE is in talks with a large number of liquefied natural gas (LNG) suppliers, not just in Qatar and North America, its chief executive Markus Kreber said, as Germany’s biggest energy producer steps up efforts to replace supplies of Russian natural gas.

As Reutes reports, earlier this year RWE said it was in talks with potential LNG suppliers from the US and Qatar, as Berlin seeks to differentiate itself from Russia, the largest supplier of natural gas.

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Sources told Reuters in May that talks with Qatar had proved difficult due to disagreements over critical clauses in the contracts, mainly over the duration of the agreements.

German Economy Minister Robert Habeck said last month that Qatar had decided not to make a good offer and that potential gas importers were being sought elsewhere for now.

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Speaking at RWE’s results presentation, CEO M. Kreber said “we are talking to all kinds of suppliers and there are certainly other countries that have significant LNG export capacity. Talks are ongoing.”

In addition to Qatar and the United States, Reuters notes that Australia is also among the world’s top LNG exporters.

RWE, which is less affected by the decline in Russian gas flows than rival Uniper, said it had 40 LNG cargo shipments to Europe in the first half of 2022, four times the number in the same period last year.

According to Kreber, the expansion of LNG terminals is the key to improving gas supplies in Europe, with him adding that RWE will fill the terminals once they are built, including a floating unit in Bruensbuettel that aims to put in operation in December.

“The infrastructure in Europe is at a tipping point,” he pointed out.

RWE unveiled plans in May to buy about 3 billion cubic meters of LNG a year from US-based Sempra Energy starting in 2027, which Kreber said would cover RWE’s stake in the Brunsbuettel terminal.

Source: Capital

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