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

ABU DHABI (Reuters) - The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy...
Qatar, UAE energy ministers say gas will be needed for long time © 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
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ABU DHABI (Reuters) - The world will need natural gas 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.

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04-03-2024 05:57:09 (UTC+7)

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    EUR/USD 1.0840 Sell  
    GBP/USD 1.2657 ↑ Buy  
    USD/JPY 150.10 ↑ Buy  
    AUD/USD 0.6525 ↑ Sell  
    USD/CAD 1.3556 Neutral  
    EUR/JPY 162.70 ↑ Buy  
    EUR/CHF 0.9580 Sell  
    Gold 2,091.65 ↑ Sell  
    Silver 23.337 ↑ Sell  
    Copper 3.8585 ↑ Sell  
    Crude Oil WTI 79.81 Buy  
    Brent Oil 83.46 ↑ Buy  
    Natural Gas 1.836 ↑ Buy  
    US Coffee C 184.13 Neutral  
    Euro Stoxx 50 4,894.05 Buy  
    S&P 500 5,137.08 ↑ Buy  
    DAX 17,735.00 ↑ Sell  
    FTSE 100 7,682.50 ↑ Sell  
    Hang Seng 16,589.44 ↑ Buy  
    Small Cap 2000 2,076.39 ↑ Buy  
    IBEX 35 10,064.70 ↑ Buy  
    BASF 47.985 ↑ Sell  
    Bayer 28.33 ↑ Sell  
    Allianz 251.80 Buy  
    Adidas 187.00 ↑ Buy  
    Lufthansa 7.191 Sell  
    Siemens AG 181.28 Sell  
    Deutsche Bank AG 12.566 Neutral  
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