Doha, Qatar – Qatar’s energy minister warned on Tuesday the “worst is yet to come” for Europe’s oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months.
“The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the economy,” Qatari Energy Minister Saad Al-Kaabi told the Qatar Economic Forum.
“If the economy starts churning back up in (2024) and you have just a regular winter, I think the worst is yet to come.”
After Russia’s invasion of Ukraine sparked an energy supply crisis, Europe dodged serious problems this past winter largely because of milder-than-expected temperatures.
But Kaabi and his Saudi counterpart, Prince Abdulaziz bin Salman, both told the conference that an energy crunch was looming.
“If they don’t realize that and have a proper plan and sit down with producers and oil and gas companies are not demonized, reality will kick in and we’ll have a sensible solution,” Kaabi said.