(MENAFN- The Peninsula)
QNA
Doha, Qatar: The partnership between the State of Qatar and the Republic of Poland is a salient model of strategic cooperation in energy and sustainable development. The energy sector plays a pivotal role in strengthening the ties between the two countries, by virtue of the productive cooperation that constitutes a core pillar of sharing economic and strategic benefits, thus fostering Polands energy security and undergirding Qatars standing as one of the largest exporters of Liquified Natural gas (LNG) in the world and opening new prospects for sustainable partnership and mutual development.
In this context, comes the visit of the Amir H H Sheikh Tamim bin Hamad Al Thani to the Republic of Poland, a country where vibrant growth abounds in the Central Europe. This high-level visit earns a significant momentum because the bilateral relationship between the two friendly countries is rock-solid, with Doha and Warsaw constituting a successful model in trade alliances.
The Qatar-Poland energy cooperation is expected to underpin the base of shared interests and open new prospects for cooperation and coordination, with Doha positioning itself as a vital source of energy today, making it a critical strategic partner for Warsaw in the Polands quest for economic boom and development, specially that the State of Qatar supplies Poland with 30% of gas imports, a significant contribution that bolsters Qatars standing as an important partner for Poland, as long as the latter aspires to be an energy hub in the Eastern Europe.
Noteworthy, 2009 was a turning point in the Qatar-Poland energy cooperation, culminated in the signing of a long-term agreement under which Warsaw would import roughly 1.3 billion cubic meters of Qatar's LNG annually. These supplies were delivered to the Polish new floating LNG receiving terminal which became operational in 2014, specifically for this purpose.
The Qatar-Poland cooperation has evolved further beyond the mere gas importation, as 2016 marked a milestone in the trade ties between the two nations, along with the substantial flow of Qatar's gas shipments to Poland. And deliveries were commenced at Swinoujscie LNG Terminal after it had been inaugurated on the Baltic Sea. The terminal received approximately 126 LNG shipments, underscoring the steady growth of energy cooperation between the two nations.
Additionally, the energy cooperation went far beyond, with QatarEnergy announcing a deal to increase the LNG deliveries to the Polish Oil and Gas Company (POGC) to reach 2 million tons annually. The deal went into effect in early 2018, as declared by the company during that time and would continue until June 2034.
Speaking to Qatar News Agency (QNA), economist Fawaz Al Hajri underscored the Qatar-Poland relationship, in terms of trade, investment and policy, highlighting that the visit of the Amir H H Sheikh Tamim bin Hamad Al Thani to Warsaw will strengthen these historic bilateral relations, spanning many years of superb economic partnership and setting the groundwork for exploring cooperation in economy, investment and tourism and pushing them to broader horizons.
Al Hajri pointed out that the Republic of Poland shares outstanding economic partnership with the State of Qatar that encompasses energy, tourism, education, health, IT, hotel industry, electricity generation, construction, agriculture, solar energy, and a wide diversity of other fields. He asserted that Poland is one of significant markets of Qatar's gas and imports one-third of its needs from Qatar, especially after the pact that was signed in 2017, which stipulated the reception of Qatar's LNG at the Polish Swinoujscie LNG Terminal.
He noted the role of the Polish investments and firms operating in multiple fields in the Qatari market, affirming that the amount of trade exchange between Qatar and Poland reached roughly $852.4m in 2019, with the Qatari exports to Poland reaching $750.1m in the same year. The exports primarily comprise LNG. Moreover, the Polish exports to Qatar reached $102.3m and included mechanical and electrical devices, along with health and Agro products.
Regarding the Qatar-Poland partnership, the expert and financial and economic analyst and Vice Dean of Business School for Academic and Quality Assurance at the Jordanian Al-Albayt University Prof. Omar Gharaibeh told QNA that the Qatari gas imports to Poland have strengthened the Qatar-Poland economic and political relations. He added that these ties strike a strategic balance and help stabilize energy supplies, in addition to ensuring economic growth between the two countries and diversifying Poland's energy sources.
Prof. Gharaibeh added that the ironclad Qatar-Poland relationship plays a vital role in promoting the political and diplomatic relations, especially that 30% of Poland's LNG imports come from Qatar, a significant contribution that has numerous indications at the economic and geopolitical levels. He outlined that obtaining stable supplies by Poland virtually reinforces energy security and bilateral relationship between the two countries, in addition to diversifying Poland's energy sources.
MENAFN05072024000063011010ID1108410279
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.