Qatar energy minister: I am not overly concerned about Trump's promise to remove the LNG exports cap.

• Qatar's energy minister stated that he is not overly worried about U.S. President-elect Donald Trump's promise to increase domestic liquefied natural gas production.
• Qatar's energy minister and CEO of QatarEnergy, Saad Sherida Al Kaabi, stated at the Doha forum on Dec. 7 that additional LNG and competition is welcome, as additional gas is required, whether it is from the U.S., Qatar or other places.

The energy minister of Qatar stated that he is not overly worried about the promise of U.S. President-elect Donald Trump to remove the restrictions on the export of liquefied natural gas.

Qatar's energy minister and CEO of QatarEnergy, Saad Sherida Al Kaabi, stated that additional LNG and competition is welcome as additional gas is required, whether it comes from the U.S., Qatar or other places, in a conversation with CNBC's Dan Murphy at the Doha Forum on Dec. 7.

"If you mention exporting another 300 million or 500 million tons of LNG from the U.S., all these projects are driven by private enterprises that consider commercial viability, and there will be a limit."

"The long-term outlook for these companies, supply, and demand will determine everything," he stated, adding, "I'm not too concerned about it."

Trump's transition team is preparing an energy package to be released shortly after his inauguration, which includes approving LNG export permits and increasing domestic oil drilling, according to Reuters.

The decision to establish an LNG or export facility requires six to ten years to become operational, and it is not a "switch on, switch off" move, as emphasized by him.

This year, the competition between the U.S. and Qatar as the world's largest LNG suppliers has intensified, with their combined market share remaining almost 50%. The decision by Europe to phase out reliance on Russia's pipeline gas and the quick filling of the supply gap by U.S. suppliers have contributed to this increase in competition.

The Corporate Sustainability Due Diligence Directive, which mandates large companies to identify and address negative environmental impacts, among others, in their operations, needs to be "thoroughly" reviewed by the European Union, according to Kaabi.

Kaabi stated that the penalty for not complying with the GDPR can reach up to 5% of a company's total revenue, which will negatively impact European companies and those operating in the EU, as they will have to bear higher costs to complete the due diligence process.

In 2027, the CSDDD is expected to impact approximately 5,500 EU-based companies and at least 1,000 non-EU companies with substantial operations in the region, according to Reuters' July report.

According to the Global SWF, the Qatar Investment Authority, which manages an estimated $510 billion in assets, and other fund managers may consider withdrawing their investments from the EU to avoid penalties, as stated by the speaker.

"Kaabi stated that the situation is dire for them as European economies are struggling, hence they require foreign direct investments and support."