European countries will eventually resume imports of Russian natural gas, the energy minister of top gas exporter Qatar 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 though it now has a “much more variety” of imgs of supply, said Qatari Minister Saad Sherida al-Kabi, one of QatarEnergy’s chiefs.
“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 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 unstable for some time,” Saad Serida al-Kabi warned, saying the problem of replenishing stocks would arise again next year in Europe.
Source: News Beast
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