Ras Laffan, Qatar– Qatar’s Energy Minister Saad al-Kaabi on Monday called for a ceasefire in Gaza to end insecurity in the Red Sea which has disrupted hydrocarbon deliveries in the vital shipping route.
The minister, who is also the chief executive of state-owned hydrocarbon giant QatarEnergy, said the “root of the problem” in the Red Sea, where Iran-backed Houthi rebels have targeted commercial vessels, “is the Israeli invasion of Gaza”.
“Hopefully there is a ceasefire soon that will stop that so that the economic impact on the entire world stops,” he told a news conference at a ground breaking ceremony for a mega petrochemical plant on Qatar’s northeast coast.
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to Israel, in solidarity with the Palestinians in Gaza, where Israel is fighting a bloody war against Hamas in retaliation for its October 7 attack.
Many companies, including QatarEnergy, have chosen to divert their vessels thousands of kilometers (miles) around the southern tip of Africa to avoid the Red Sea.
“It’s going to add cost, it’s going to add time, and it’s also good to add constraint on actual deliveries,” Kaabi said, referring to the diversions.
“It may not be felt in (the) short term, but if it’s long term, then it will actually hamper movement… if you take a full year, the net volume that actually is transferred,” he added.
In December the United States announced a maritime security initiative, Operation Prosperity Guardian, to protect shipping in the area.
Repeated strikes on Houthi targets by the United States and Britain have failed to halt the rebel attacks.
