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Qatar- Natural gas will continue to be cornerstone in the low-carbon energy transition: Minister

In remarks at the 7th Ministerial Gas Forum that was inaugurated and attended by H E Tan Sri Muhyidden Yassin, Prime Minister of Malaysia, H E Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, said energy will continue to be key to global growth and development on the road to recovery in the post-Covid world, and that natural gas will continue to be a cornerstone in the low-carbon energy transition.

The Minister made the remarks during a virtual Ministerial Roundtable held under the title, ‘Opportunities in Growing Gas Markets: Producer-Consumer Perspectives on New Realities as part of the 7th Ministerial Gas Forum, which was organized by the Government of Malaysia in cooperation with the International Energy Forum (lEF) and the International Gas Union (lGU).

In his remarks at the roundtable, H E Al-Kaabi highlighted the impact of the COVID pandemic and its heavy toll on world economies, which has disrupted many aspects of life with an agonizing human toll, and an unprecedented disruption to the growth and prosperity many countries had hoped to achieve. His Excellency 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 and particularly on the gas industry.

His Excellency 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, H.E. added.

The Minister told the ministerial roundtable that ‘with challenges often come opportunities, stressing the need for stronger producer-consumer collaboration as an important path to recovery.

He also highlighted Qatar’s efforts to keep the environment front and center across the whole LNG value chain.

‘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 Filed 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 tons of CO2 per annum by 2027, placing us firmly on the road to becoming a leader in the de-carbonization of the LNG value chain, H E Al Kaabi said.

‘I believe that the economic and environmental realities of the post-COVID-19 era will help increase the competitiveness of LNG. And I have no doubt that the best for the LNG industry is yet to come, he added.

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.
Source: The Peninsula

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