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Tribune News Network
Doha
The oil and gas industries the world over are currently transitioning towards a cleaner environment, Minister of Energy and Industry HE Mohammed bin Saleh al Sada has said in Houston.
The way to achieve this goal is to increase investment in technology to attain the balance between using fossil fuels and at the same time avoiding damage to the environment, he said while addressing a panel discussion at the CERAWeek conference that was held in Houston from March 5 or 9.
Besides attending the"Oil and Gas in a World of Transition" discussion, Sada participated in the OPEC Ministerial Roundtable on climate and sustainability held on the sidelines of the conference.
There, he highlighted Qatar's status as a reliable producer of cleaner fuel.
Fossil fuels, he said, are here to stay and that technology was the key to reduce the effect on world climate.
Sada also participated in a panel session on the alliance between OPEC and non-OPEC producers. Joined by OPEC Secretary General Mohammed Barkindo, ministers of energy from Kuwait, Equatorial Guinea and Kazakhstan, the panel reviewed the way OPEC managed to form the successful alliance with a number of non-OPEC producers to cut production with a compliance rate of more than 100 percent.
The panel praised the efforts made by Qatar as president of OPEC during 2016 and most of 2015 in engineering the historic agreement and emphasised its position as an influential authority in the fields of gas and oil. Sada said the agreement aimed at restoring balance to the oil market to the benefit of both producers and consumers alike.
During the visit, the minister had separate meetings with Kuwait Minister of Oil Electricity and Water Bekhit Shabib al Rashidi, ExxonMobil Senior Vice President Andy Swiger, SNAM CEO Marco Alvera, OPEC SG Mohammed Barkindo and GECF Secretary General Yury Sentyurin.
CERA (Cambridge Energy Research Associates) was founded in Cambridge, Massachusetts in 1983. The energy research and consulting firm quickly became known for its critical knowledge and independent analysis on energy markets, geopolitics, industry trends, technology and strategy.
The conference is distinctive in the extraordinary depth and breadth of its content and the quality of the dialogue among participants.
