DUBAI (Reuters) – Qatar’s energy minister said on Tuesday that he believes currently high gas prices reflect a lack of investment as well as a shortage of supply but added he did not regard the situation as a crisis. “There is a huge demand from all our customers, and unfortunately we cannot cater for everybody. Unfortunately, […]
Qatar Minister Says Soaring Gas Prices Reflect Investment Gap
DUBAI (Reuters) – Qatar’s energy minister said on Tuesday that he believes currently high gas prices reflect a lack of investment as well as a shortage of supply but added he did not regard the situation as a crisis.
“There is a huge demand from all our customers, and unfortunately we cannot cater for everybody. Unfortunately, in my view, this is due to the market not investing enough in the industry,” Saad al-Kaabi said on the sidelines of an industry conference in Dubai.
Asked if he expects high prices to last he said: “We hope not. We don’t want these high prices, we don’t think it is good for the consumers. We don’t want $2 and we don’t want $20, we want to have a reasonable price that is sustainable.”
(Reporting by Alexander Cornwell and Yousef Saba in Dubai, writing by Marwa Rashad in London; editing by Jason Neely)
