HE the Minister of Energy and Industry Affairs, Dr Mohamed bin Saleh al-Sada, addressing the World Petroleum Congress in Doha yesterday
By Pratap John/Chief Business Reporter

Global investments worth $38tn are required to meet the rising energy demand, HE the Minister of Energy and Industry Affairs, Dr Mohamed bin Saleh al-Sada, has said.
Of these $20tn are required for oil and gas-related investments, al-Sada said, quoting the International Energy Agency, as he delivered the welcome address at the inaugural session of the World Petroleum Congress at the Qatar National Convention Centre yesterday.
Al-Sada said the huge investments by producers of traditional energy for developing their natural resources will have to be met with accurate information on the needs of consumers and with future plans to reduce margins of investment risks.
“The future of the energy industry is a mutual responsibility that depends on the pledges we undertake as producers or consumers in the extent of co-operation and dialogue among governments and international organisations, and international and national oil companies,” al-Sada told the delegates at the Congress.
The link between energy production and usage, on one hand, and sustainable development, on the other, has focused on two major factors, he said.
“First, there is a need to provide the energy services required to meet human basic necessities and achieve economic and social development as the basis of prosperity. Second, there is a need to produce energy and use energy resources properly and in an ecologically safe manner, so that it won’t exceed the natural capacity of the global environmental system.
“Therefore, we would like to stress the importance of enhancing levels of co-operation among all parties concerned, including energy producers and consumers, advanced technology holders, financial institutions, and policy makers, to promote a just exchange of benefits and mutual interests, thereby achieving a state of genuine partnership based on unified targets and objectives.
“Research and development in the energy sector, in addition to building national capabilities, the transfer of technologies from advanced countries to underdeveloped countries, the sharing of information and experience and the provision of financial resources, are all major fields of co-operation in the industry.”
On innovation, al-Sada said there is an urgent need for scientific and research development, which would spur the innovation process and expedite the development of applicable technologies in various fields, such as increasing energy consumption efficiency and developing renewable energy sources.
Al-Sada expressed gratitude to HH the Emir, Sheikh Hamad bin Khalifa al- Thani, for his patronage of this conference. The slogan of this conference, ‘Energy solutions for all’, has been developed bearing in mind the vital role that energy plays in development and its link to the three main pillars of sustainable development – social, economic and environmental.
“All countries and the international community are urged to implement intensive efforts to overcome the challenges of harmonising patterns of energy use and the distribution and consumption of energy with the requirements of sustainable development,” al-Sada added.

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