One of the world’s largest suppliers of liquefied natural gas (LNG), Qatar, has warned the European Union that it may halt vital gas exports if the bloc enforces its new corporate due diligence directive.
The legislation, which seeks to align companies with the EU’s net-zero goals, includes penalties of at least 5 percent of a company’s global annual revenue for non-compliance.
“If I lose 5 percent of my generated revenue by going to Europe, I will not go to Europe… I’m not bluffing,” Kaabi stated, adding that the legislation imposes impractical requirements on energy producers.
Kaabi emphasized that QatarEnergy would not breach existing contracts but could explore legal challenges or halt new shipments if penalties are enforced. While hinting at possible compromises, he warned that Europe’s stringent regulations risk disrupting an already fragile energy supply chain.
