“As a small country, we cannot afford hostilities between large power blocs”

He announced new investments in German companies. These would be completed soon, said the deputy prime minister, without giving details. The sovereign wealth fund is particularly interested in the renewable energy, technology, pharmaceutical, financial services and real estate sectors.

Read the entire interview here:

What can Qatar do to curb the soaring gas prices in Europe?
We are currently doing everything possible to help our European partners. We leave whatever volume we could deliver to Europe and do not divert LNG tankers, although under our contracts we could do so if we could get a higher price elsewhere. In addition, we are currently significantly expanding our gas production. This creates capacities for more liquid gas for Europe.

When can Germany get more LNG from Qatar – not until 2026, when your country wants to increase its liquefied gas production from the current 77 to 126 million tons a year? Or earlier?
The expansion of production in our North Dome gas field will not be completed until 2026, maybe even as early as 2025. But we want our US liquid gas plant Golden Pass in Texas, in which Qatar Energy holds 70 percent, to be ready by 2024 so that we can go to Germany can deliver.

You are chairman of the sovereign wealth fund QIA. How satisfied are you so far with the Qatari investments in Germany, for example at Solarworld, Curevac, Volkswagen, Deutsche Bank?
Even if some of these companies are going through challenging times, we have great confidence in the German economy. That’s why we want to continue investing in German companies. We still have a lot to do. Qatar is already the largest investor from the Middle East in the German economy and we are looking for other good opportunities, especially in the German Mittelstand. We have a lot in the pipeline.

What then?
We will announce that shortly. But only after the deals are closed.

Which sectors are you particularly interested in?
First and foremost we see the area of ​​renewable energies, solar, wind power, hydrogen economy. In addition, we focus on technology companies, the pharmaceutical sector, financial services, real estate and, in particular, small and medium-sized companies, which are the backbone of the German economy. Battery technology and storage technologies in the field of renewable energies are also in focus. There are great opportunities there.

Does QIA see itself only as a financial investor, or is it also about integrating Qatar more into global industrial value creation?
We are in an active dialogue with Volkswagen to intensify the cooperation between VW and Qatar. The main focus here is on the development of autonomous driving.

So you want the practical tests for autonomous driving of VW vehicles to take place in Qatar cities?
That’s what we hope for, and that’s what we’re talking to VW about. However, QIA is a long-term investor that aims to create income for future generations through our global investments. It is about the diversification of our state revenues in the future. With our state fund, we ensure our prosperity as a state in the long term. That is why we diversify our investments geographically and by economic sector.

So far, QIA has primarily invested in Germany, France, Great Britain and the USA. Are you now directing more money to Asia?
We have great confidence in the European and US economies, but also in Asian economies. And that’s why we’re continuing to diversify, also in the direction of Asia.

Looking at China, are you afraid of decoupling, a big East-West bloc formation?
As an Asian country, Qatar wants a balanced investment strategy and good business with everyone. Especially in the current world situation, we need great coherence, much more diplomatic engagement instead of decoupling.

But if there were another split – what would be the role of the Middle East, which traditionally receives military security guarantees from the USA, but now mainly sells oil and gas to Asia?
As countries of the Gulf Cooperation Council (GCC), we want to maintain our relations with the US and Europe, but at the same time have a balanced relationship with China, Russia and others. We want to see how we can help hold everything together and not become a factor of division. We are a small country and cannot afford hostilities between large power blocs.

Qatar is known as a mediator. Do you have any idea how a peace agreement with Russia can be reached in Ukraine?
Qatar rejects any attack on the sovereignty of a country and the use of force against another state. Negotiations between Russia and Ukraine have been going on for some time…

…but they just got stopped.
But there will have to be negotiations to end this war and this suffering. We speak to both sides. Because in the end, world history shows that war never ends on the battlefield, but at the negotiating tables. And the faster, the better.

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Shouldn’t Qatar also leave the Russian market, like other foreign companies have already done? But QIA is still invested in the Russian oil company Rosneft, in the VTB Bank, in retail chains. Are you discussing a withdrawal?
In any case, we are not looking for new opportunities and commitments in Russia. QIA is a long-term investor and we invest on a commercial basis, not a political one.

So no withdrawal from Russia?
We hope that the situation will change as soon as possible.

But Rosneft and VTB are on Western sanctions lists.
We ensure that QIA adheres to all sanctions and does not break any.

Another country is under tough sanctions: Iran. When do you expect a breakthrough in the nuclear agreement that has now been renegotiated with your neighbor?
The Emir was recently in Tehran and met both the President and the spiritual leader of Iran. He will report on this to Chancellor Scholz, since Germany is negotiating very intensively for a solution. A breakthrough is in the interests of all of us, including those of us in the region. And the Iranian leadership told us they were ready for a compromise.

Does the West need Iran’s oil, which would return to world markets with a nuclear deal, as a substitute for Russian oil?
This is certainly also a factor why the nuclear agreement should come into force again quickly. But for us it’s about something else: more stability in the Gulf. Germany and Qatar are pulling together on this issue. But of course, all the extra oil in the markets helps stabilize oil prices and lower inflation.

The looming hunger crisis in the world is even more dangerous than inflation. Qatar started its own food security program many years ago. What can be done to protect large parts of the world from a hunger crisis caused by the war in Ukraine?
The most important thing is to stop the war in Ukraine quickly. In addition, more must be invested in food production in other parts of the world. Qatar has already invested in agribusiness in other countries for its food security and will now expand it. And we must do everything to ensure that Russia ends the blockade of Ukrainian ports so that Ukraine can export the food it has stored.

You describe German-Qatarian relations as very good. What if the Bundestag called for a boycott of the World Cup in November and December in your country?
I hope it doesn’t come to that. We want to welcome the German fans to the World Cup in Qatar. We have done a lot for it.

What exactly? Human rights organizations accuse Qatar of serious violations of the rights of guest workers in your country.
We have tackled far-reaching reforms, fundamentally changed labor law, introduced a minimum wage, abolished the so-called kafala system, which tied workers to one employer and did not allow them to change jobs. We made sure the workers got paid on time, got better housing. Declaring a boycott now would be completely counterproductive. Instead of criticizing from afar, one should come here and see what we have changed in recent years. Many should be impressed by this.
Mr. Deputy Prime Minister, thank you very much for the interview.
Mathias Brüggmann asked the questions.

More: Liquid gas for Germany: Emir of Qatar wants to conclude LNG deal during state visit.