File Photo.
Any further escalation of tension between Iran and the US in the Gulf waters or in the Strait of Hormuz will impact the whole world as it will not only disrupt the supply of oil and gas but also affect trade in other commodities, said H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs, and President & CEO of Qatar Petroleum, in response to a question about the burning issue which may disrupt Qatar’s LNG supply to the rest of the world.
“As far as the political tension (between Iran and the US) in the Arabian Gulf is concerned, it is not a Qatar specific issue; it is something that affects the whole region. We hope that all the tension will subside and things can be sorted out in a peaceful manner,” Minister Al Kaabi said.
Al Kaabi added: “If anything goes wrong in the Strait of Hormuz, or in the region, it will impact the entire world, not only the supply of LNG, crude (oil), petrochemicals and trade of other commodities in general. The impact will be much bigger, not just limited to oil and gas. But definitely, it will have more severe impact to the oil and gas industry.”
Asked if Qatar (the world’s largest supplier of LNG to the rest of the world and about 25 percent of the global LNG passes through the Strait of Hormuz) taking some measures to minimise the risk to its LNG supply chain, he reiterated that “its a global issue and we hope for the peace prevail”.
