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| Swiger addressing the Brookings Doha Energy Forum |
Oil and natural gas will continue to play a central role in meeting the world’s energy needs, by virtue of their availability, versatility and affordability, ExxonMobil’s senior vice president Andrew P Swiger said at the Brookings Doha Energy Forum 2012. In the decades ahead, the world will depend on partnerships between international oil companies and national oil companies to unlock new supplies of energy, apply high-impact technologies, and effectively manage safety and environmental risks, Swiger said.
Over this period, the world will likely see the continuation of an important trend already transforming energy markets: the rise of global trade in natural gas, Swiger said during the forum’s opening session.
“This is not news in Qatar, which has been at the cutting edge of this newly developing global market for natural gas. Well over a decade ago, HH the Emir put forward a vision for Qatar to meet the need for natural gas. Through the establishment of Qatargas and RasGas, the establishment of wise business policies, and the welcoming of foreign investment, Qatar’s leadership helped direct more than $120bn to develop in excess of 5mn barrels of oil equivalent per day of new energy supplies for markets the world over,” he said.
Swiger said the world’s energy markets will also be shaped by those who understand the importance of sound energy policy in allowing these partnerships to form and succeed.
“When thinking about changes in energy markets, therefore, we must always consider the business climate and policies that make it possible for scientists, engineers and investors to work together to solve challenges.
“Nowhere is this lesson seen more clearly than here in the State of Qatar. Thanks to the leadership of HH the Emir, Qatar has put in place policies that have made the State an example to the world.”
Today, Qatar is the world’s largest producer of liquefied natural gas. The country is now supplying LNG to markets all over the world and bringing diversification to the global energy portfolio.
Most importantly, Qatar is perfectly positioned to meet the growing needs for natural gas for power generation in the European and Asian markets.
Swiger said Qatar has shown how wise policies could lead to the successful partnerships of national oil companies and international oil companies.
“At ExxonMobil, we have been proud to partner with Qatar in its efforts to maximise the value of its resources in the rapidly evolving energy markets,” he said.
“Such co-operation leads to the execution of capital projects and the creation of the technologies, which can meet the needs of our ever-changing global energy markets – and do so in a way that is safe, secure and environmentally responsible, he said.
Swiger spoke in the presence of HE the Prime Minister Sheikh Hamad bin Jassim bin Jabor al-Thani, HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada and UAE Minister of State for Foreign Affairs and Minister of State for Federal National Council Affairs, Dr Anwar Mohamed Gargash.