Qatar’s Energy Minister Saad al-Kaabi has firmly rejected US Treasury Secretary Scott Bessent’s assessment that the Strait of Hormuz could lose its current importance in about two years. Bloomberg reported the comments from al-Kaabi’s public remarks.
Al-Kaabi made the statement on Sunday at the Qatar Economic Forum in New York. “Maybe that is his opinion. I think that is absolutely wrong,” he said in response to Bessent’s view.
Bessent had said earlier that the importance of the Strait of Hormuz could decline significantly over the next two years. His assessment was linked to the development of alternative oil and gas supply routes, as well as a possible reduction in the global economy’s dependence on shipping energy commodities through the waterway.
At the same time, the Strait of Hormuz remains one of the most important routes in global energy trade. A significant share of global oil and liquefied natural gas supplies passes through it, and its stable operation is particularly important for the Persian Gulf states, including Qatar.
Al-Kaabi rejected the suggestion that the strait will soon lose its strategic role, but did not specify which factors, in his view, will continue to sustain its importance in the global energy system.
