At the end of a summit in Doha, in the context of the Russian-Ukrainian crisis, gas producers indicated that they have a limited capacity to rapidly increase their supply to Europe and they are not clear about prices, warned this Tuesday, February 22, the Gas Exporting Countries Forum (GEPF).
Presidents and prime ministers of the eleven countries that make up the organization met amid the increase in prices in this sector, attributed to geopolitical tensions between Russia and Ukraine.
Russian Energy Minister Nikolai Shulguinov stated that “Russian companies (completely) uphold their commitments linked to existing contracts.” He did not comment on the situation in his country, whose relations with the West are going through the worst crisis since the Cold War.
“We appreciate the efforts of all members of the GEPF, who have worked to ensure a credible and reliable supply of natural gas to the world market and preserve the stability of these markets”, declared the Emir of Qatar, before those attending the closing meeting. .
On his side, the Qatari Minister of Energy, Saad Cherida al-Kaabi, pointed out that the emirate, one of the largest gas exporters, assured Europe of its “help” in case of supply difficulties, clarifying; however, that it would be limited to available stocks.”
In his opinion, “the volumes that can be redirected (to other clients) represent between 10 and 15%” of said stocks. “Russia accounts for 30-40% of Europe’s supply,” and “quickly replacing it is almost impossible,” he continued.
Source: Larepublica
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