Oil and Gas Trade Should be Depoliticized, Qatar Energy Chief Says

Monday, October 24, 2022

Saad al-Kaabi, the head of Qatar's state-run energy company, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements.

The comments by Kaabi, who is also Qatar's minister of state for energy, come ahead of a Gas Exporting Countries Forum (GECF) meeting in Egypt and echo the views of many industry players who fear a G7 price cap on Russian oil could paralyse the trade worldwide.

"The State of Qatar and QatarEnergy urge all governments and multilateral institutions to craft policies which depoliticize the exchange of fuel commodities in the form of sanctions or anti-free market agreements," Kaabi said in a statement.

QatarEnergy is one of the world's top liqueified natural gas (LNG) exporters.

The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5. The European Commission also last week proposed its latest set of emergency measures to tackle high energy prices, but steered clear of an immediate cap on gas prices as EU countries remain split over the idea.

More than 15 EU countries, including Italy, Poland, Greece and Belgium, have called for an EU gas price cap, but disagree on its design. Germany and the Netherlands warn capping gas prices could leave countries struggling to attract fuel from global markets during a winter with scarce Russian supply.

Kaabi also said governments should condemn, "the sabotage and military attacks on energy infrastructure or power grids."

Russia stepped up its aerial attacks on Ukraine this month with missiles and drones targeting major cities and energy infrastructure.

Ukraine's energy minister has said at least half of Ukraine's thermal generation capacity was hit.

(Reuters - Reporting by Andrew Mills and Maha El Dahan; Editing by Susan Fenton)


Categories: Energy Middle East Industry News Activity People & Company News

Related Stories

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Current News

BP, ONGC, Reliance Industries Ink Deal for Offshore Exploration in India

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

PTTEP Buys Chevron's Hess Unit Share of Southeast Asia’s Offshore Block for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com