Qatar’s energy minister believes that Russian gas will return to Europe

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“The Europeans are saying today that this is out of the question” but “things are getting better with time,” said Saad Sherida al-Kabi

European countries will eventually resume imports Russian natural gasthe energy minister of Qatar, one of the largest natural gas exporters, predicted today, estimating that the current market volatility will continue.

European countries have sharply cut supplies of Russian natural gas after Russia’s invasion of Ukraine, which has caused turmoil in the global energy market.

“Russian gas will, in my opinion, come back to Europe” even if it now has a “much more variety” of sources of supply, its minister said Catarrh Saad Serida al-Kabi, one of the heads of QatarEnergy.

“The Europeans are saying today that this is out of the question” but “things are fixed with time,” he added, speaking at an energy forum in Abu Dhabi.

Gazprom’s natural gas exports to the European Union and Switzerland will drop by 55% in 2022, according to the 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 warn of market unpredictability.

“The situation will remain volatile for some time,” he warned Saad Serida al-Kabisaying that the problem of replenishing stocks will arise again next year in Europe.

RES-EMP

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