UAE Energy Minister: Low Gas Prices Are Not Sustainable

UAE Minister of Energy Tuesday, September 21, said that low gas prices are not sustainable, stressing that the recent increase occurred because of the key factors of the market, in addition to the lack of investment in the sector.

Minister Suhail Al Mazrouei said at a sector conference in Dubai that gas prices are not sustainable at two or three dollars, and indicated that there is a need for new investments in the sector, given that prices will go through periods of ups and downs until the market finds the right price.

He added that if the current prices continue, it will be a burden on many countries, and that in the long run, the market is not ready to accept such prices.