Russian “blue fuel” will help balance the shaky global energy market. Most of the EU member states are diversifying energy sources, the Russian energy resource will return to Europe, which, in turn, will greatly facilitate both the sector and the market itself, stabilizing gas prices.
MK
This was stated by the State Minister of Energy of Qatar Saad al-Kaabi at the Global Energy Summit of the Atlantic Council.
“I think the balance will be reached. Hopefully, some kind of mediation, truce or other political solution, in which Russia and Europe will settle all differences. I hope politically, and the sooner the better. I don’t think this situation will last forever,” he stressed.
According to the State Minister, gas market participants will soon learn sad lessons from gas friction with Moscow.
“Russian gas, in my opinion, will return to Europe. Whether next year, five years from now, I don’t know. But as soon as the situation clears up. And this, I think, will be a great relief for the entire gas sector and for the entire energy market in Europe, and also stabilizes prices,” added al-Kaabi.
The European gas situation will remain unstable, despite the fact that a relatively “mild” winter has enabled the EU to move away from the critical load on UGS.
“During 2025, 2026, 2027, not much gas will enter the market. So I think that for some time the situation will be unstable,” he concluded.
Back in the fall, Al-Kaabi predicted a deterioration in the energy situation in Europe due to the total depletion of gas reserves in the coming year. He said that the situation will become “much worse” when cold weather sets in, and the most severe energy crisis risks dragging on until the middle of the decade, if the energy resource “does not start flowing again” from the Russian Federation.
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