Producers warn gas prices ‘in God’s hands’

Producers warn gas prices ‘in God’s hands’

DOHA: Major gas exporting nations said yesterday they could not guarantee prices or supplies at a summit overshadowed by the worsening Ukraine crisis which has pushed costs to record highs in Europe. Qatar’s Amir, who hosted the talks, said gas producers were working to ensure “credible and reliable” supplies, on the same day as Europe’s concerns over deliveries from Russia were further hit by Germany’s decision to halt the Nord Stream 2 pipeline project.

The Gulf state’s energy minister said his country would help Europe as much as possible, but that the unprecedented prices paid by Europe’s consumers were “in God’s hands”. Leaders and ministers from the 11-member Gas Exporting Countries Forum met after Russian President Vladimir Putin formally recognized two breakaway regions of Ukraine as independent and sent in troops. Germany responded by freezing the huge gas pipeline from Russia.

With Russia a key member of the exporters’ forum, the Ukraine crisis was not mentioned in talks, officials said, or the final statement. Russia’s Energy Minister Nikolay Shulginov made no reference to the tensions but he told the forum that “Russian companies are fully committed to existing contracts” for gas supplies. The United States has asked Qatar to help Europe if