Arab oil producers 'keen' to export natural gas, ensure market stability

The Organization of Arab Petroleum Exporting Countries (OAPEC) said in a statement on Friday that it "affirms keenness" of Arab countries to export natural gas and "ensure the stability of global markets".

OAPEC noted that in January the group exported "more than 10 million tonnes of liquefied natural gas to meet about 29 percent of global demand", which it said was the highest monthly output of gas achieved by the coalition in history.

Natural gas prices have soared in recent days amid Russia's invasion of Ukraine, and Europe continues to fear that supply disruptions from Moscow could create an energy crisis in the continent.

Russia is the world's second-largest natural gas producer and supplies roughly a third of Europe's gas imports.

OAPEC noted, however, that despite the ongoing fears, Russian gas is continuing to be pumped into Europe via Ukraine without interruption.

Qatar, one of the largest natural gas producers in the world, said earlier this week that no single country could replace Russia as Europe's natural gas supplier.