More investment needed to ensure affordable natural gas: Qatar, UAE

The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, energy ministers of Qatar and the United Arab Emirates have said.

"The issue is what's going to happen when they want to replenish their storages this coming year and the next year," he said, adding that energy producers were concerned about demand destruction.The UAE is an OPEC oil producer that is sharpening its focus on the gas market as Europe seeks to replace Russian energy imports after supply cuts since Western sanctions were imposed on Moscow over its incursion into Ukraine.

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