DUBAI, Sept 21 (Reuters) – The United Arab Emirates’ energy minister said on Tuesday low gas prices were not sustainable and a recent hike reflected market fundamentals and a lack of investment in the sector. “Gas prices were not sustainable (at) $2 or $3. The market will drive the price,” Minister Suhail al-Mazrouei said at an industry conference in Dubai. Gas prices have soared 280% higher in Europe this year and by more than 100% in the United States due to a range of factors including low storage levels, carbon prices and reduced Russian supply. Reporting by Alexander Cornwell and Yousef Saba in Dubai, writing by Marwa Rashad in London; editing by Louise Heavens and Jason Neely
