The most important step taken by the West so far in the field of energy-related sanctions against Russia as a result of its invasion of Ukraine is the halting of the Nord Stream 2 gas pipeline project.
However, there is Western reluctance to target the energy sector in Russia, because it is the largest gas exporter to Europe, as well as one of the largest oil exporters in the world.
Al-Qabas has learned that the imposition of sanctions on the Russian energy sector will have global repercussions and prices will rise to record levels. Even Moscow itself did not talk about using energy as a weapon and did not threaten to stop the export of gas and oil.
But if things go wrong, that might happen, and in anticipation of that scenario, the West moved to look for alternatives.
In this context, The Independent newspaper said that the Gulf countries may benefit from this if it occurs, as it will allow them to export larger quantities of oil and gas and will guarantee them winning negotiating papers that they can benefit from on political and strategic levels.
The newspaper reminded Washington of sending the White House coordinator for the Middle East and North Africa Brett McGurk to Saudi Arabia and the United Arab Emirates to discuss the Gulf’s ability to pump more oil.
Riyadh refused this and adhered to the “OPEC +” production agreement for a period of five years, which includes Russia, but the continuation of the Russian invasion and expansion of Ukraine may make things change and Saudi Arabia may have a different opinion that gives it negotiating power on several files.
The newspaper also referred to Qatar, the largest producer of liquefied natural gas in the world, which is now in high demand.
And Qatari Energy Minister Saad al-Kaabi said that “neither Qatar nor any other country has the ability to completely replace Russian gas supplies to Europe — in the event of the worst — given that it is responsible for about half of what the continent needs.”
But Al Kaabi said up to 15 percent could be transferred to Europe. This percentage is not small and will give Doha an important role at the strategic level.
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