In times of energy scarcity and the need for investment to boost the economy, the emir of Qatar received exquisite treatment and all congratulations on his first official visit to Spain this week. In this way, relations between the two countries rise to the highest level and Spain manages to diversify its gas suppliers in the midst of the crisis due to the war in Ukraine and when it maintains some tension with another large supplier such as Algeria. In addition, the emir, Sheikh Tamin bin Hamad al Thani, took advantage of the visit to announce an investment of 4,700 million euros (5,000 million dollars), which will go to digital and environmental projects.
One of the ways to channel this investment is the collaboration agreement signed between the Qatari sovereign wealth fund QIA (Qatar Investment Authority) and the Spanish Development Financing Company (Cofides), which will facilitate the identification of projects. The funds will be allocated to green and digital economy projects aligned with the recovery plan, although there is still no specification of the disbursement deadlines.
"It is a gesture of confidence in the Spanish economy and companies that strengthens bilateral relations," said the President of the Government, Pedro Sánchez, during the inauguration of the Spain-Qatar business forum that was organized during the visit.
The president of the CEOE, Antonio Garamendi, also stated that "for Spain it is great news, firstly because of the amount, and secondly because it shows that Spain is worth it". He also added that "we will put all the meat on the grill so that money from abroad has an interest in Spain and to value the Spanish company."
In addition to investments, Qatar is of particular interest to Spain because it is one of its major gas suppliers, and at the present time gas is gaining more value due to doubts about the energy supply from Russia and the increase in its price that it is causing the Ukrainian war. It is also added that Spain, with seven regasification plants, is one of the countries with the greatest capacity to receive liquefied gas in its ports.
Currently, Qatar is the fifth gas supplier to Spain, on a list headed by the United States, followed by Algeria, a country with which relations are difficult after the change in the Government's position on Western Sahara.
4
