He also called for enhanced efforts to address challenges and achieve complementarity among Arab countries to support their economic growth.
The minister was delivering keynote address at the 12th Arab Energy Conference, organised by the Organisation of Arab Petroleum Exporting Countries (OAPEC) here on Monday.
Al-Kaabi noted Qatar has taken bold strategic decisions, investing tens of billions of dollars in the LNG industry, at a time when many doubted the feasibility of such investments.
“Our decision at the time was based on a realistic understanding of market fundamentals and efforts to reduce global carbon emissions. As a result, we embarked on implementing our plans to raise our LNG production from the current 77mn tonnes per year to 126mn tons by 2026,” the minister said.
Al-Kaabi stressed the “urgent need to formulate a realistic and scientifically based vision for a fair, balanced, and sustainable energy transition, and for helping the needs of about 1bn people around the world who have no access to basic electricity, which we all enjoy every day.”
The minister also addressed the pivotal role of solar energy in the efforts to provide renewable and sustainable sources of energy in the Arab world.
“There is no doubt that our Arab countries are well positioned to develop the use of solar energy, especially because of their geographical location that provides an abundance of solar energy.
“Therefore, we have the responsibility to develop greater energy efficiency in the Arab world, in addition to strengthen legislative and regulatory frameworks to support a balanced energy transition.”
The minister said: “The changes around us require that we give priority to addressing the energy security challenge and to strengthen our joint action and complementary efforts to support the economic growth of our countries.
“While the global energy map is evolving in light of these changes, the State of Qatar stresses the importance of strengthening cooperation between Arab countries to secure a promising future for us and for the coming generations.”
Al-Kaabi praised the role of OAPEC in organising the conference and in keeping an eye on global energy market developments and their repercussions on member states, in supporting efforts to develop the energy industry, and in adopting modern technologies that support a partnership between the various components of the energy mix towards a low-carbon future, stressing the State of Qatar’s support of all efforts to enhance Arab energy co-operation.
The minister also thanked the State of Kuwait, OAPEC’s host country, for sparing no effort to ensure the success of the organisation’s work.
The Arab Energy Conference is held every four years, and discusses topics related to Arab and international energy sources, petroleum industries, Arab cooperation in the field of electric power, energy demand management in the Arab countries, in addition to energy, environment and sustainable development issues.
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