The government and the king deploy all their diplomacy to buy gas and attract investment from the Qatari Sovereign Wealth Fund.
- Royal House Felipe VI turns to Emir of Qatar
- Government Sanchez wants to turn the page on CNI crisis with an economic twist in government action
Incredible welcome. GovernmentThe king and the principal institutions of the state do not skimp on the entertainment of the rich Queue, Tamim bin Hamad Al Thanik, who is the protagonist of the two-day state visit that ends today. preferential treatment. medals of honor Congress And this managing committee, golden key of the city madrid, concession of Collar of the Order of Isabella Catholic… a timely and necessary visit, pointing to the energy crisis scenario, acknowledge government sources that europa derived from the attack of Ukraine,
Staged with grandeur and fanfare, it creates a profound economic backdrop: Spain’s short-term aim is to attempt to guarantee the gas supply it considers necessary, and Qatar played an important role there. Because our country associates the generalized energy crisis caused by the war in Ukraine, with the diplomatic crisis AlgeriaOur main gas supplier, after the turn given by the government Shara Occidental, with and Italy Already Algerian is taking steps to become a main customer of gas.
the president himself Algeria, abdelmayid tebunaccused Sánchez of breaching international legitimacy by accepting the Moroccan autonomy plan for Western Sahara. He said what Spain has done is unacceptable, morally and historically. Nor did it help that the Spanish government claimed it had informed them of their turn with the Shar and this was denied by Algerian diplomatic sources.
Although the government maintains that the contract with Algeria or its supply is not in jeopardy, it tries to shield its purchases of Qatar gas, because, as it recognized, there are already European and non-European countries that are involved in this. Contacting the state. more or less aggressive. Two months ago, for example, Germany You Queue The agreement reached during the visit of the German Economy Minister agreed to forge a long-term energy partnership, Robert Hebek,
Spain now wants to take a step. For this reason, the Emir’s state visit will serve to elevate the relationship between the two countries into a strategic union and, thus, ensure a boost to economic ties.
Because Qatar is not only the world’s leading exporter of liquefied natural gas, its annual gas production capacity currently stands at 77 million net tons, with plans to increase to 110 million in 2024—according to April data from Bloomberg, but its It is the third country in the world with the largest reserves of natural gas after Russia I erna,
In 2020, 8.8% of liquefied gas purchased by Spain came from Qatar, only behind Nigeria (12%) y Algeria (29%). As of 2019, this country was the second supplier.
While the government recognizes that imports are highly diversified in the context of the energy crisis and the need for suppliers, it seems important to take the lead. Therefore, it aims to strengthen bilateral relations, cooperation and understanding.
Because in his aim to prioritize the economic agenda, Pedro Sánchez is engrossed in attracting investment. And Rich is undoubtedly a great investor. It should be remembered that its QIA Sovereign Fund has assets of 450,000 million euros.
Attract Qatari money for Spanish projects linked to the European Fund next generation This state visit of the government has another purpose. Qatar’s money reaches Spain as an important source of investment. One of the most important agreements that are going to be signed between the two countries today is between the Sovereign Fund. QIA You cofidesProposes to study, identify and invest within the framework of a public-private partnership that manages state funds recovery plan, Although the government refrains from giving details of the projects, they will be designed in the areas of ecological transition, digital transition, hydrogen storage, industrial autonomy … The government opens the door to all options: investment in Qatar only, with cofide in hand , tie up with Spanish companies … But they invest, that is the purpose that is pursued.
There are chances that Qatari flows will come in the next few years, they believe in the executive. They in government believe that its roadmap coincides with Qatar’s aspirations to expand and diversify its investments and that there is room for Spain to be one of the countries to focus that investment.
In addition to this agreement between Sovereign Wealth Fund and Cofides, 12 agreements will be signed, including eight bilateral MoUs in various fields. One of them would be between economic departments to deepen financial and investment ties.
And the issue of human rights in Qatar? The government says this is a matter of discussion and will be reflected in the joint declaration that the two countries sign today.
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