Qatar claims that gas prices will remain volatile for many years

Qatar's energy minister predicts strong fluctuations in gas markets over the next few years due to high demand and insufficient supply.

At a conference in Abu Dhabi, Saad al-Kaabi said that the situation has been unstable for some time and that there is not enough gas supplied to the market.

According to his assumption, without Russian supplies, it will be difficult to replenish reserves next winter and gas consumers in the northern hemisphere could face difficulties.

A slowing global economy, an increase in LNG exports to Europe, also from Qatar, and a warmer-than-normal winter have had an impact on gas prices since the middle of 2022.

Gas prices are still significantly higher than historical averages. If China's economy recovers, gas purchases will increase and that could lead to more gas purchases.

According to al-Kaabi, high prices affect consumers negatively. He added that the biggest problem producers face is the destruction of demand.