Mubasher: Trafigura said on Wednesday that the political conflict between Doha and a number of Arab countries did not affect the level of Qatari gas imports, Reuters reported on Wednesday.
"The developments in Qatar have so far not impacted at all our trading business. It's much too early to say if there could be a disruption," Christophe Salmon, Trafigura chief financial officer (CFO) told Reuters.
The company has recently boosted its liquefied natural gas (LNG) sales, as it supplies Qatari gas to a number of countries including Egypt.
The LNG market is an oversupplied market, the main focus is to secure customers, he indicated.
Salmon also praised the company’s operations in Egypt, saying that it has been a very good business, both on the gas and products side.
“Last year we had a very significant market share in Egypt. It is lower this year. It's a profitable business but not without a risk, credit risk," he noted.
On Monday, Saudi Arabia, UAE, Egypt, and Bahrain simultaneously decided to cut diplomatic ties with Qatar.
A similar decision was later announced by Yemen and Libya.
Today, Mauritania severed diplomatic ties with Qatar after accusing it of supporting terrorism.
