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podcast | Spain and Qatar: an economic marriage of gas, machinery and textiles

Qatar has promised to increase its investments in Spain by 4,720 million euros over the next few years. In the midst of the war in Ukraine, with the sanctions and blockade against Russia and the energy crisis raging at large, the two countries are expanding ties under the umbrella of a strategic association. If the emirate was until now a key investor in energy, finance, in the airline, construction or infrastructure sector, it now intends to extend that presence to the energy transition process.

The world’s leading exporter of liquefied natural gas is intensifying its agreements with a Europe that is desperately seeking substitutes for Russian energy sources and that has precisely included gas within the green taxonomy -so this raw material will continue to be key in the decarbonization process-. Time is short when it comes to gaining market share, since The United States has sprinted and aims to become the world’s leading exporter by the end of this year of liquefied natural gas. What figures mark the economic relations between Madrid and Doha?

In the energy field and according to Enagás, it was the fifth supplier of natural gas to our country in April with a share of 4.4%, behind the United States, Algeria, Nigeria and Egypt. According to the data handled by the Foreign Trade Institute (ICEX), Spain is the sixty-third supplier of Qatar (the fifth at European level) and the sixty-second customer of the emirate (the fourth within the European Union). Even so, the supply of gas to our country makes it, according to the agency, a “strategic partner.” But Qatar is also an old acquaintance of the Spanish stock market. Just two examples: your sovereign fund is a reference shareholder of Iberdrola and the airline Qatar Airways It has a presence in IAG, parent company of Iberia and British Airways.