The UAE is committed to achieving balance in the oil market

Dubai Suhail bin Muhammad Al Mazrouei, Minister of Energy and Infrastructure, stressed that international investments in the gas sector are not enough, and the world needs more investments in the gas sector.

He said that the political developments in Europe and the Ukraine crisis imposed major changes in the energy sector. In this regard, he stressed that the UAE is committed to providing the necessary support to achieve balance in the oil market.

Al Mazrouei explained, during his participation in a session entitled “Energy Inflection Point: Reliable Supplies in Times of Crisis”. Within the Global Energy Forum of the Atlantic Council, with the participation of Saad Al Kaabi, Qatar’s Minister of State for Energy, the UAE is working according to a comprehensive perspective aimed at strengthening international cooperation and joint action with various countries of the world, with the aim of advancing sustainable development, implementing many world-leading projects in the field of energy, and strengthening its role as a responsible provider of sustainable energy.

Al Mazrouei stressed the UAE’s keenness to work with its partners around the world under the umbrella of international organizations, with the aim of accelerating the energy transition and its access to global markets with greater flexibility, away from geopolitical changes, increasing focus on clean and renewable energy sources, especially liquefied gas.

He pointed out that gas is a major source of energy in the world, being a catalyst for environmentally friendly energies, and has a prominent role in achieving the goals of climate neutrality, energy security and its long-term sustainability.

For his part, Saad Al-Kaabi, the Qatari Minister of Energy, confirmed that gas is not only a transitional fuel, but a final fuel.

He added that some Western countries believe that African countries should not explore for oil and gas, and this is unfair.

He said: We hope that there will be good investments in the field of gas in the future.

Source: National Iraqi News Agency

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