Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi
Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi said European gas prices are currently equivalent to about $160 when compared with oil prices, and are likely to remain elevated if the Strait of Hormuz stays closed. 
Speaking at the Qatar Economic Forum in collaboration with Bloomberg, Al-Kaabi said the outlook depends on storage levels during the summer, noting that Europe experienced unusually high temperatures this summer, driving greater reliance on air conditioning and boosting energy consumption.
A harsh or prolonged winter could significantly deplete inventories, he said, adding that stockpiling is currently underway ahead of the winter season in both Europe and Asia.
Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi
Qatar’s Minister of State for Energy Affairs Saad Al-Kaabi said European gas prices are currently equivalent to about $160 when compared with oil prices, and are likely to remain elevated if the Strait of Hormuz stays closed.
Speaking at the Qatar Economic Forum in collaboration with Bloomberg, Al-Kaabi said the outlook depends on storage levels during the summer, noting that Europe experienced unusually high temperatures this summer, driving greater reliance on air conditioning and boosting energy consumption.
A harsh or prolonged winter could significantly deplete inventories, he said, adding that stockpiling is currently underway ahead of the winter season in both Europe and Asia.
