Qatari Energy Minister Saad bin Sherida Al-Kaabi stressed, on Tuesday, that his country has no plans to return to the Organization of the Petroleum Exporting Countries (OPEC).
Qatar withdrew from OPEC membership in early January 2019.
Al-Kaabi said, on the sidelines of the “Gastec 2021” conference and exhibition, in Dubai, that the high gas prices at the present time reflect a lack of investment, as well as a lack of supplies.
He added that his country, which is the largest producer of liquefied natural gas in the world, is committed to investing in domestic gas infrastructure significantly.
Al-Kaabi’s participation in the UAE is the first for a high-ranking Qatari official since the reform of relations between the two countries.
Al-Kaabi, who is also the president and CEO of Qatar Petroleum, added, “There is an increasing demand from all customers for gas, but it is not possible to meet everyone’s needs, and this, in my opinion, is due to the lack of sufficient investments in the sector.”
He added, “There is no concern about over-investment in the gas sector, and a lot of investment is needed,” adding that gas will certainly be part of the solutions for the energy transition that needs realism.
In response to a question about the continued rise in gas prices, he stated that he “hopes that these unhelpful high prices for consumers will not continue, but we want to have a reasonable and sustainable price.”
Al-Kaabi stressed that his country’s relationship with the UAE is “good.”
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