Qatar’s Energy Minister Saad Al Kaabi said that Qatar will stand “in solidarity with Europe” and continue to supply gas to the continent even if it means losing out on more lucrative contracts elsewhere.
“We’re not going to divert [contracts] and will keep them in Europe, even if there is financial gain for us to divert away, we would not do that,” the minister said in an interview with US-based news network CNN.
“That’s in solidarity with what’s going on in Europe,” Al Kaabi added.
The minister also said that Qatar would remain from “choosing sides” in the Russia-Ukraine war.
Earlier this week, Russian President Vladimir Putin announced that his country would demand that payments for Russian gas supplies that head to “unfriendly countries” must be settled in roubles.
The Russian premier added that his country would continue to provide gas in line with volumes and pricing principles previously set out in contracts, with only the payment currency changing.
UK Prime Minister Boris Johnson visited the UAE and Saudi Arabia last week amid calls for the Organization of Petroleum Exporting Countries (OPEC) to increase oil output, Arabian Business earlier reported.
Energy prices have skyrocketed in recent weeks following Russia’s invasion of Ukraine. In response to the invasion, Russia has been targeted by a record number of sanctions, including some bans on its energy exports. The rouble has tumbled to all-time lows as the economy has been hit hard by the sanctions.
While the US and the UK have banned Russian energy, the European Union is much more reliant on Russia for its energy needs. EU chiefs have disagreed on how to proceed.
