‘Worst yet to come’ for Europe energy shortages: Qatar minister

‘Worst yet to come’ for Europe energy shortages: Qatar minister

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.

Saad al-Kaabi and his Saudi counterpart Prince Abdulaziz bin Salman said a lack of investment in oil and gas, as the world tries to transition to cleaner fuels to prevent global warming, risked causing an energy crunch.

"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 Prince Abdulaziz of Saudi Arabia, the world's biggest oil exporter, both told the conference further problems were looming.

"If (European leaders have) a proper plan and sit down with producers, and oil and gas companies are not demonised, reality will kick in and we'll have a sensible solution," Kaabi said.

Qatar has announced a series of major gas supply deals and is