DOHA: Belgium, which already imports Qatari gas under two long-term contracts, still has great untapped market potential to absorb more liquefied natural gas (LNG) from Qatar, said a senior diplomat of the EU’s host country.
The additional Qatari gas can find use in many new areas, including marine and surface transport.
‘We are open to source more LNG from Qatar which can be used in transport sector such as ships and trucks. The sector has great potential for expansion, said Christophe Payot, Ambassador of Belgium to Qatar.
‘Belgium currently imports gas from Qatar under two 20-year long contracts, which is has completed almost 10 years, Payot told The Peninsula.
The envoy noted that LNG will be much more important element of energy mix in future given the fact the EU member states, including Belgium, are trying to cut carbon emissions cut target by using cleaner energy. The demand for gas may further increase as major EU nations are in the process of phasing out their nuclear power plants.
Payot said that Belgium is diversifying its sources of LNG, which is not only consumed domestically, but also supplied to neighbouring countries. Its Zeebrugge LNG terminal serves as a gateway to supply gas to Northwestern Europe. Over the last 30 years, the terminal has received more than 1,500 LNG vessels. Qatar and Belgium have taken several concrete steps at further reinforcing their robust bilateral economic ties which have started showing results.
Payot said that the cooperation between the two countries is continuing to grow deeper and stronger, especiallafter the visit of the very important trade delegation in 2015 led by HRH Princess Astrid.
The 400-people economic mission had inked over a dozen MoUs, including the one related to double-taxation, which is currently under rectification process, said the envoy.
Citing an example of the steady progress in the bilateral ties, Payot said that a Belgium-based independent research and technology organisation, VITO, has recently opened its subsidiary in Doha to serve the Middle East region. This is the second subsidiary of VITO outside Europe (another is in China).
On bilateral trade volume, the ambassador, said: ‘2015 was a great year for us. We had an increase of 57 percent in our exports to Qatar, which was about €320m. The overall trade balance for the year was almost €1.5bn. The volume of two-way trade stood at €1.2bn in 2014. LNG exports to Belgium play an important role in bilateral trade, and it was one of the first countries in European to receive Qatari gas way back in 2007.
About the trade growth in 2016, Payot said that it is progressing, but a bit less than the 2015, which was an ‘exceptional year. ‘But we are still very happy with the figure of 2016, which witnessed a great progress in the chemicals sector. The trade volume may not be more than 2015 but definitely it will be higher than 2014, despite market dynamics, he added. ‘As far as Belgian exports are concerned, food, precious stones, and precious metals sectors are increasing. We expect that in 2017 this trend will continue.