Authorities Qatar can redirect gas supplied to EU countries to other states if it is appropriate.
This was stated by the Minister of State for Energy of the emirate, CEO of QatarEnergy Saad bin Sharid al-Kaabi.
“Nothing is permanent and we have the right to do whatever we want with our volumes (gas)“, – TASS quotes an interview with the minister to Bloomberg.
“But it was a promise that we made for a certain period of time. When it makes sense for us to redirect (supplies), we will do it,” he added.
Qatar has previously pledged to refrain from diverting gas supplies from Europe. However, in accordance with the contracts has the right to do so.
In addition, the minister said that the introduction by the EU countries of the ceiling on oil and gas prices will destroy the market.
“… if I am an investor in the oil and gas sector and intend to make the final investment decision on an oil or gas project, when I sell any product, I look at the market, at the EU as a big buyer, and they set a price, a certain price, and they say that will not buy oil at a price higher than $50,” Saad bin Sharid al-Kaabi said.
“I’m going to invest ten billion dollars, expecting a return of nine or ten percent, based on a price of $50 a barrel. If the next government doesn’t like the price, and they set a price cap of $30, what should I do?“, the minister asked.
Speaking about the idea of imposing a cap on oil and gas prices, he recommended “strive to make peace in Europe” as this would help “drastically reduce prices.” “This is not higher mathematics, everything is obvious,” said al-Kaabi.
It is worth noting that The European Union considers Qatar as one of the main sources of energy resources. This state is one of the world leaders in the export of liquefied natural gas. Previously, the main market for Qatar was Asian markets, but now a significant part of the supply goes to Europe.
But not everything is so simple. For example, Germany fails to conclude an agreement with Qatar on gas supplies, the matter is limited to declarations of intent. The fact is that Qatar demands long-term contracts and bans Germany from reselling gas. But in Berlin they do not agree to this.
Another potentially problematic issue is in Europe, the voices of those who criticize Qatar for violating human rights are loud enough. And these voices are getting louder on the eve of the World Cup, which kicks off in Qatar on November 20.
Under these conditions, the authorities of the emirate, for sure, have a desire to more carefully assess some aspects of relations with the European Union. Moreover, Qatar has all the cards in its hands. However, the matter has not yet come to practical steps. But it may well come.