The Emir of Qatar, Sheikh Tamim Bin Hamad Al Thani, meets with the President of Iberdrola, Ignacio Sánchez Galán. The Qatar Investment Authority sovereign fund is the main shareholder of Iberdrola.
Spain is expected to see more investment from Qatar, especially in energy transition and digital momentum, and will soon increase supplies of gas from that country, the world’s second largest exporter after the United States.
These are two of the objectives that are part of the two-day state visit to Spain that the Emir of Qatar, Sheikh Tamim Bin Hamad Al Thanicwhich has been received by the King and Queen and will meet with the President of the Spanish Government, Pedro Sanchez
The emir also plans to meet with the president of Iberdrola, Ignacio Sanchez Galan the sovereign wealth fund Qatar Investment Authority (QIA) is the main shareholder of Iberdrola.
The visit coincides with the 50th anniversary of the establishment of diplomatic relations between the two states. The ties between Spain and Qatar will grow into a strategic association, as evidenced by the joint statement that the two governments will sign this Wednesday and in the 12 different types of agreements that will be signed during the visit.
The most important will be the collaboration between the Qatari sovereign wealth fund QIA (one of the largest in the world and with assets worth 450,000 million euros) and the state financing company for development cooperation cofides
Qatar is already together with the United Arab Emirates one of the main investors in key sectors of the Spanish economy such as civil aviation, finance, construction, energy or infrastructure, but wants to increase and diversify its presence.
Currently, according to the Executive, it is the second largest supplier of natural gas to Spain, along with Nigeria and behind Algeria, and in 2019 it represented 11.4% of total gas imports, although it fell three places in the following two years.
During his first day in Spain, Sheikh Tamim bin Hamad Al Thani and his wife, Jawaher bint Hamad bin Suhaim Al Thani, were received at the Royal Palace by the King and Queen, who later offered them lunch at La Zarzuela Palace and had organized a gala dinner.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
