Qatar Energy Minister Calls for Gaza Ceasefire to Secure Red Sea

Qatar’s Energy Minister, Saad al-Kaabi, has urged for a ceasefire in Gaza to alleviate disruptions in the Red Sea impacting hydrocarbon shipments along this crucial maritime route. Al-Kaabi, who is also the CEO of QatarEnergy, attributed the tensions in the Red Sea to the Israeli military actions in Gaza.

He expressed hope for a resolution that would cease the conflict, thus mitigating its global economic repercussions. The call for peace comes in light of the Houthi rebels in Yemen, backed by Iran, attacking ships they associate with Israel since November, in a show of solidarity with Palestinians amidst the ongoing conflict in Gaza triggered by a Hamas attack on October 7.

As a result of these security concerns, shipping companies, including QatarEnergy, have been rerouting vessels around Africa’s southern tip, significantly increasing costs and delaying deliveries. Al-Kaabi highlighted the potential long-term impacts on shipping efficiency and the volume of hydrocarbon deliveries if these conditions persist.

In response to the threats, the United States introduced Operation Prosperity Guardian in December, aimed at enhancing maritime security in the region. However, attacks by the Houthi rebels continue despite retaliatory actions by the US and Britain.