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Tribune News Network
Doha
Energy will be key to global growth and development on the road to recovery in the post-COVID-19 world and natural gas will continue to be a cornerstone in the low-carbon energy transition, Minister of State for Energy Affairs and Qatar Petroleum President and CEO HE Saad Sherida Al Kaabi has said.
Kaabi made these remarks at the 7th Ministerial Gas Forum inaugurated and attended by Malaysia Prime Minster Tan Sri Muhyidden Yassin.
The forum was organised by the Government of Malaysia in cooperation with the International Energy Forum (lEF) and the International Gas Union (lGU).
Participating in the virtual ministerial roundtable held under the title ‘Opportunities in Growing Gas Markets: Producer-Consumer Perspectives on New Realities’ as part of the forum, Kaabi highlighted the impact of the COVID-19 pandemic and its heavy toll on world economies, which has disrupted many aspects of life with an agonising human toll, and an unprecedented disruption to the growth and prosperity many countries had hoped to achieve.
He said, “While we mark one year of life with COVID-19, we are still coming to terms with its short and long-term impacts on the global economy, and are trying to assess the over-reaching brunt on the energy sector, particularly on the gas industry.”
Kaabi noted that a post-COVID world will be different, and that it will require a new way of thinking on how to manage our economies and our relationship with the environment.
“This is where, I believe, natural gas plays a pivotal role and displays its most important economic and environmental qualities,” the minister said.
“With challenges often come opportunities,” he said stressing the need for stronger producer-consumer collaboration as an important path to recovery.
Kaabi also highlighted Qatar’s efforts to keep the environment front and center across the whole LNG value chain.
Kaabi said, “Lower CO2 emissions and carbon capture and sequestration are part of the basic design of our new LNG facilities being built as part of the North Field Expansion projects, which will raise our production to 126 million tons per annum by 2027. Qatar Petroleum is implementing a series of projects and initiatives to reduce gas emissions, and to capture and sequester more than 7 million tonnes of CO 2 per annum by 2027, placing us firmly on the road to becoming a leader in the de-carbonisation of the LNG value chain.”
Voicing a positive note on the future of the LNG industry, he said, “I believe that the economic and environmental realities of the post COVID-19 era will help increase the competitiveness of LNG. I have no doubt that the best for the LNG industry is yet
to come.”
The Ministerial Gas Forum is an important platform for dialogue between ministers, CEOs and industry experts focusing on relevant issues revolving around the role of natural gas in emerging markets, where Asia is the main driver of demand. It aims to identify and advance energy policies and business strategies that support the dynamic evolution of global gas markets.
Doha
Energy will be key to global growth and development on the road to recovery in the post-COVID-19 world and natural gas will continue to be a cornerstone in the low-carbon energy transition, Minister of State for Energy Affairs and Qatar Petroleum President and CEO HE Saad Sherida Al Kaabi has said.
Kaabi made these remarks at the 7th Ministerial Gas Forum inaugurated and attended by Malaysia Prime Minster Tan Sri Muhyidden Yassin.
The forum was organised by the Government of Malaysia in cooperation with the International Energy Forum (lEF) and the International Gas Union (lGU).
Participating in the virtual ministerial roundtable held under the title ‘Opportunities in Growing Gas Markets: Producer-Consumer Perspectives on New Realities’ as part of the forum, Kaabi highlighted the impact of the COVID-19 pandemic and its heavy toll on world economies, which has disrupted many aspects of life with an agonising human toll, and an unprecedented disruption to the growth and prosperity many countries had hoped to achieve.
He said, “While we mark one year of life with COVID-19, we are still coming to terms with its short and long-term impacts on the global economy, and are trying to assess the over-reaching brunt on the energy sector, particularly on the gas industry.”
Kaabi noted that a post-COVID world will be different, and that it will require a new way of thinking on how to manage our economies and our relationship with the environment.
“This is where, I believe, natural gas plays a pivotal role and displays its most important economic and environmental qualities,” the minister said.
“With challenges often come opportunities,” he said stressing the need for stronger producer-consumer collaboration as an important path to recovery.
Kaabi also highlighted Qatar’s efforts to keep the environment front and center across the whole LNG value chain.
Kaabi said, “Lower CO2 emissions and carbon capture and sequestration are part of the basic design of our new LNG facilities being built as part of the North Field Expansion projects, which will raise our production to 126 million tons per annum by 2027. Qatar Petroleum is implementing a series of projects and initiatives to reduce gas emissions, and to capture and sequester more than 7 million tonnes of CO 2 per annum by 2027, placing us firmly on the road to becoming a leader in the de-carbonisation of the LNG value chain.”
Voicing a positive note on the future of the LNG industry, he said, “I believe that the economic and environmental realities of the post COVID-19 era will help increase the competitiveness of LNG. I have no doubt that the best for the LNG industry is yet
to come.”
The Ministerial Gas Forum is an important platform for dialogue between ministers, CEOs and industry experts focusing on relevant issues revolving around the role of natural gas in emerging markets, where Asia is the main driver of demand. It aims to identify and advance energy policies and business strategies that support the dynamic evolution of global gas markets.
