European countries will eventually resume their imports of Russian gas, predicted Saturday the Minister of Energy of Qatar, country among the largest exporters of this hydrocarbon, estimating that the current volatility of the market should continue.
European countries largely restricted their supply of Russian gas after Moscow invaded Ukraine in February 2022, a conflict that caused a jolt in the global energy market.
“Russian gas will come back, in my opinion, to Europe” even if it now has “a much greater diversity” of sources of supply, said Qatari minister Saad Sherida al-Kaabi, also head of QatarEnergy, the company national flag of the gas-rich Gulf emirate. “The Europeans say today that it is out of the question” but “things are repaired over time”, added the official during an energy forum organized in Abu Dhabi.
Gazprom’s gas exports to the European Union and Switzerland have fallen by 55% in 2022, according to this Russian energy giant, with Europe previously being its main market. This month, the wholesale price of natural gas in Europe fell to its lowest level since Russia invaded Ukraine, thanks to a mild winter that helped save stocks, but analysts put warns against the unpredictability of the market.
“The situation will remain volatile for some time,” also warned Saad Sherida al-Kaabi, saying that the problem of restocking will arise again next year in Europe.
European countries will eventually resume their imports of Russian gas, predicted Saturday the Minister of Energy of Qatar, a country among the largest exporters of this hydrocarbon, estimating that the current volatility of the market should continue.
European countries have largely restricted their supply of Russian gas after the invasion of…