LNG critical bridge fuel to green energy economy: Al Attiyah
Liquefied natural gas (LNG) is a critical bridge fuel to a green energy economy, H E Abdullah bin Hamad Al Attiyah, Chairman of the Abdullah Bin Hamad Al Attiyah International Foundation for Energy and Sustainable Development and Former Deputy Prime Minister and Minister of Energy and Industry has said.
He was speaking at the webinar hosted by the US-Qatar Business Council (USQBC) titled “How Will LNG Drive a Sustainable Energy World?” recently.
The panel discussion during the event also included other esteemed industry experts including Marianne Kah, Adjunct Senior Research Scholar and Advisory Board Member of the Center on Global Energy Policy, School of International and Public Affairs (SIPA) at Columbia University, Mohammed Barakat, Managing Director of USQBC, and Dominic Genetti, President of ExxonMobil Qatar Limited.
“Liquefied natural gas is a critical bridge fuel to a green energy economy,” Al Attiyah said. “The task now is to meet global LNG demand and ensure facilities adhere to the highest sustainability standards,” he added.
Qatar and the United States have shared a deep, long-lasting history and partnership in the oil and gas sector. This partnership, among others, has resulted in Qatar becoming the top LNG exporter in the world. Some of the United States’ largest oil and gas companies are present in Qatar including ExxonMobil, ConocoPhillips, and Chevron. With the North Field Expansion (NFE) project already underway, LNG production is expected to increase 43 percent by 2025 and 64 percent by 2027.
“Natural gas shows promise as a pathway to creating a more sustainable, and lower carbon
future as long as methane emissions are minimised,” said Kah. “When countries switch from higher carbon fuels to natural gas, it provides a reliable fuel supply during the energy transition”.
Global gas demand is forecast to grow 3.4 percent per annum to 2035 with many LNG related investment projects currently planned and already underway. Qatar Petroleum and ExxonMobil have formed a $10bn joint-venture to build the Golden Pass LNG liquefication and export terminal in Sabine, Texas, with its first liquefaction train scheduled to come online by 2024 .
“I was pleased to join the US-Qatar Business Council webinar on energy and environmental sustainability. This is an important topic which requires cooperation between governments and industry to identify sustainable solutions for the environment and global economy. It was inspiring to discuss potential business models and initiatives with colleagues and partners, particularly how the intersection of good government policy, business innovation, and technology can accelerate progress,” said Genetti.
Both Qatar and the United States have demonstrated sustained commitment to being responsible LNG producers. On April 23, 2021, Qatar and the United States, and a few other select countries founded the Net-Zero Producers Forum, a platform dedicated to developing net-zero emission strategies.
“Qatar and the US have a rich history of partnership in the development, production, and export of LNG,” said Barakat. “Through continual innovation and the use of industry-leading technologies, Qatar and the US continually reaffirm their position as global leaders in energy sustainability.”
In January 2021, Qatar Petroleum unveiled its Sustainability Strategy, which establishes several targets in line with the goals of the Paris Agreement. It mandates the deployment of Carbon Capture and Storage (CCS) facilities to capture more than 7 million tonnes of CO2 per annum in Qatar. The strategy also sets a direction towards cutting down the emissions intensity of the country’s LNG facilities by 25 percent and of its upstream facilities by at least 15 percent, while also reducing flare intensity across upstream facilities by over 75 percent.
Source: The Peninsula Qatar