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Qatar Leaving OPEC a Political Decision, Not Economic: UAE Minister

UAE State Minister of Foreign Affairs Anwar Gargash believes that Qatar’s decision to leave OPEC is not economic, but political. About this diplomat wrote on Monday on his page on Twitter

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Earlier on Monday, the State Minister of Energy of Qatar, Saad Bin Sharida Al-Kaabi, announced his plans to withdraw from OPEC from January 1, 2019. At the same time, he stressed that the decision was caused by the desire to focus on the gas sector.

Qatar’s share in total oil production by OPEC countries is less than 2%. At the same time, Qatar is the world’s largest exporter of liquefied natural gas (LNG) and intends to increase LNG production from 77 million tons to 110 million tons per year.

In the summer of 2017, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt announced that they had broken diplomatic relations with Qatar, accusing Doha of supporting terrorism and interfering in their internal affairs. This was followed by economic sanctions and the transport blockade of the emirate. These countries, in particular, closed the airspace for Qatar airlines.

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