Source: Politico
“Qatar warned that it will cease gas exports to the European Union if the bloc’s countries impose penalties under recently adopted legislation on sustainability due diligence, Qatari Energy Minister Saad Sherida al-Kaabi told the Financial Times. The EU’s Corporate Sustainability Due Diligence Directive, which entered into force in July, allows for fines of up to 5 percent of a company’s annual global revenue if the management fails to address adverse human rights or environmental impacts. ‘If I lose 5 percent of my revenue by supplying Europe, I won’t supply Europe,’ al-Kaabi told the newspaper in an interview published Sunday. ‘I’m not bluffing,’ he added. Qatar has become a critical supplier of liquefied natural gas to Europe as countries are reducing their reliance on Russian energy following Moscow’s invasion of Ukraine.” (12/22/24)