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

Iran Brings South Pars Gas Platform Fire Under Control

Aramco’s Building in Riyadh Damaged by Houthi Attack

Aker Solutions Lands Major Role in Qatar’s Offshore Oil Field Revamp

Shell to Exit Australia's North West Shelf Project in $1.45B Deal with XRG

Riyadh Attacks Disrupt Oil Majors' Summit Plans

Iran Weighs US Response as Hormuz Reopening Talks Stall

Iran Set to Keep Hormuz Shut Until Seven Demands Are Met

LNG Flows Through Hormuz Hit Seven-Month High

Iran Restores Half of Damaged South Pars Gas Field Capacity

Hormuz Ship Traffic Slumps as Middle East Conflict Drags On

Current News

Oil Heads for Weekly Decline Despite Middle East Supply Threats

Inpex Raises Profit Forecast on Strong Ichthys LNG Production

Singapore Seeks LNG Floating Storage Operators to Expand Bunkering Ops

CNOOC Makes Ultra-Deep Gas Discovery in China's Bohai Sea

First Oil Flows from Vietsovpetro's Platform Offshore Vietnam

Iran Brings South Pars Gas Platform Fire Under Control

Oil Prices Slide as Trump Signals Pause in Iran Strikes

Murphy Oil Secures Six Offshore Israel Licenses Near Leviathan Gas Field

VAALCO Advances Côte d'Ivoire Offshore Exploration Ahead of 2028 Drilling

Aramco’s Building in Riyadh Damaged by Houthi Attack

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