DOHA — About 40 percent of all the new LNG coming to the market by 2029 would be from QatarEnergy, said Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy, Eng. Saad bin Sherida Al Kaabi.
Speaking at the ‘Leadership Dialogue’ of the 20th International Conference and Exhibition on Liquefied Natural Gas (LNG2023) in Vancouver, Canada, Al Kaabi highlighted the ever-present need for gas as the cleanest fossil fuel in electricity production and industry.
Al Kaabi provided insights into QatarEnergy’s efforts to address the energy trilemma of supply security, affordability, and sustainability, ensuring cleaner energy for a responsible energy transition.
“We are increasing production to 126 MTPA, and we have another 16-18 MTPA out of the US coming online next year,” Al Kaabi said, emphasizing their commitment to reducing emissions through CO2 sequestration and the use of solar power in new LNG production.
He further highlighted Qatar’s role in CO2 sequestration, with the largest site in the MENA region, expecting to reach 11 MTPA in a few years.
The minister also called for a realistic dialogue on the energy transition, noting that demonizing oil and gas had resulted in significant declines in sector investments.
Al Kaabi stressed the continuous global demand for oil and gas, particularly in developing nations, reminding that it would be unrealistic to call for the end of oil and gas usage when about a billion people worldwide lack basic electricity.
Highlighting Qatar’s robust gas investments, Al Kaabi stated, “when we made our investment decisions a few years back, many doubted the need for such volumes, but the necessity of oil and gas is now apparent.”
Qatar, the world’s LNG capital, will host the next LNG Conference and Exhibition in 2026, coinciding with the historic start-up of the North Field LNG expansion project and one of the world’s largest Carbon Capture and Storage schemes.
The event is organized by the International Gas Union, the Gas Technology Institute, and the International Institute of Refrigeration, and is considered the premier event for the global LNG industry.