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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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04-10-2023 19:38:25 (UTC+7)

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EUR/USD

1.0516

+0.0051 (+0.49%)

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Buy (9)

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GBP/USD

1.2153

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USD/JPY

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AUD/USD

0.6333

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    EUR/USD 1.0516 ↑ Buy  
    GBP/USD 1.2153 ↑ Buy  
    USD/JPY 148.92 ↑ Sell  
    AUD/USD 0.6333 ↑ Buy  
    USD/CAD 1.3718 ↑ Buy  
    EUR/JPY 156.60 ↑ Buy  
    EUR/CHF 0.9636 Buy  
    Gold 1,841.05 Neutral  
    Silver 21.383 Neutral  
    Copper 3.6105 ↑ Buy  
    Crude Oil WTI 87.27 Neutral  
    Brent Oil 89.08 Neutral  
    Natural Gas 3.000 ↑ Buy  
    US Coffee C 148.27 ↑ Buy  
    Euro Stoxx 50 4,119.05 ↑ Buy  
    S&P 500 4,229.45 ↑ Buy  
    DAX 15,148.35 ↑ Buy  
    FTSE 100 7,462.32 Buy  
    Hang Seng 17,186.00 ↑ Buy  
    Small Cap 2000 1,724.80 Neutral  
    IBEX 35 9,172.90 ↑ Buy  
    BASF 42.110 ↑ Sell  
    Bayer 44.35 ↑ Buy  
    Allianz 220.98 ↑ Sell  
    Adidas 162.11 Neutral  
    Lufthansa 7.148 ↑ Buy  
    Siemens AG 134.70 Neutral  
    Deutsche Bank AG 9.945 Neutral  
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