Qatar has called for stronger producer-consumer collaboration in the natural gas market for the global economic recovery and said natural gas will continue to be cornerstone in the low-carbon energy transition.
"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," HE Saad bin Sherida al-Kaabi, the Minister of State for Energy Affairs, as well as the president and chief executive of Qatar Petroleum (QP), told the 7th Ministerial Gas Forum that was inaugurated and attended by Malaysian Premier Muhyiddin Yassin.
The Qatari minister made these remarks at a virtual roundtable on the “Opportunities in Growing Gas Markets: Producer-Consumer Perspectives on New Realities” as part of the 7th Ministerial Gas Forum, which was organised by the Government of Malaysia in co-operation with the International Energy Forum and the International Gas Union.
"A post-Covid world will be different, and it will require a new way of thinking on how to manage our economies and our relationship with the environment," he said, adding this is where natural gas plays a pivotal role and displays its most important economic and environmental qualities.
Highlighting that “with challenges often come opportunities”; al-Kaabi stressed the need for stronger producer-consumer collaboration as an important path to recovery.
The minister highlighted Qatar’s efforts to keep the environment front and centre across the whole LNG (liquefied natural gas) value chain.
“Lower carbon dioxide 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 126mn tonnes per annum by 2027," he said.
QP is implementing a series of projects and initiatives to reduce gas emissions, and to capture and sequester more than 7mn tonnes of carbon dioxide per annum by 2027, placing Qatar firmly on the road to becoming a leader in the de-carbonisation of the LNG value chain.
"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,” al-Kaabi reiterated.
The forum is an important platform for dialogue among ministers, chief executives 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.