London Daily

Focus on the big picture.
Thursday, Jul 10, 2025

Europe makes sharp U-turn from green energy - Qatar energy minister

Europe makes sharp U-turn from green energy - Qatar energy minister

QatarEnergy CEO and state minister for energy Saad al-Kaabi said on Thursday that skyrocketing energy prices are "weighing painfully" on the global economy, dampening support for the transition to green energy.
"Sadly, the growing economic burden has fizzled the euphoria over the series of energy transition plans, causing severe erosion in public support for reducing carbon emissions," Kaabi told a liquefied natural gas (LNG) conference in Japan.

"Many countries particularly in Europe which had been strong advocates of green energy and carbon-free future have made a sudden and sharp U-turn. Today, coal burning is once again on the rise reaching its highest levels since 2014."

Governments across Europe have ploughed hundreds of billions of euros into tax cuts, handouts and subsidies to tackle the continent's worst energy crisis in decades that is driving up inflation, forcing industries to shut production and hiking bills ahead of winter.

Analysts estimate Europe will need to import around 200 million tonnes of LNG over the next decade to phase out Russian gas. Germany, Europe's biggest importer of Russian gas, would need around 40 million tonnes of LNG alone to replace the 50 billion cubic meters (bcm) of pipeline gas it used to get from Moscow.

Kaabi stressed the need to invest in cleaner and renewable energies, including natural gas, to drive capacity and baseload capabilities.

"The lack of such investment is putting a heavy burden on both producers and consumers. Producers must find supplies that may not exist due to the lack of investment," he said at the online LNG Producer-Consumer Conference 2022 being hosted in Tokyo.

Earlier this month, the head of Saudi oil giant Aramco (2222.SE) echoed the same view, saying that continuing underinvestment in hydrocarbons at a time when fossil fuel alternatives were still not readily available was the root cause of the problem.

QatarEnergy, one of the world's largest LNG producers, is investing nearly $30 billion on the Gulf state's North Field East expansion, which will increase Qatar's liquefaction capacity to 126 million tonnes per annum (mtpa) from 77 mtpa by 2027.

The chief executive of Germany's largest power producer RWE (RWEG.DE) said earlier this month that Europe needed more investment in LNG terminals on land to secure shipped fuel supplies from global gas producers in the long term.

Germany has leased four floating storage and regasification units (FSRUs) that are capable of importing at least 5 billion cubic metres (bcm) of seaborne gas per year. It will also charter a fifth floating LNG terminal for winter 2023/24.

The European Parliament in July backed EU rules labelling investments in gas and nuclear power plants as climate-friendly.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
×