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Qatar, UAE energy ministers say gas will be needed for long time Reuters via biedexmarkets.com

Qatar, UAE energy ministers say gas will be needed for long time By Reuters

© Reuters. QatarEnergy CEO and Qatar’s Minister of Energy, Saad al- Kaabi looks on during the signing ceremony of two sales and purchase agreements to export liquefied natural gas (LNG) to Germany, in Doha, Qatar, November 29, 2022. REUTERS/Imad Creidi/Files

ABU DHABI (Reuters) – The world will need for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, energy ministers of Qatar and the United Arab Emirates said on Saturday.

Saad al-Kaabi, Qatari state minister for energy, told the Global Energy Summit in Abu Dhabi that gas “is not a transition fuel” but a destination fuel, adding it was unfair for some in the West to say African countries should not be drilling for oil and gas.

UAE Energy Minister Suhail al-Mazrouei, speaking on the same panel, agreed that “for a very long time, gas will be there” and that while more renewable energy would be installed, more investment was needed in gas as a base load.

Written by Paul Hough