Multinational energy company Shell is interested in partnering with QP on North Field expansion, Qatar Shell’s managing director and country chairman Andrew Faulkner said and noted he is “impressed with the clarity and focus in its execution”.
In an exclusive interview with Gulf Times, Faulkner said, “I’m sure you have all followed the recent Qatar Economic Forum during which His Highness the Amir, Sheikh Tamim bin Hamad al-Thani talked about this significant project for Qatar. Let me start by saying how impressive the North Field Expansion project is. I have been impressed with the clarity and focus in its execution. The inclusion of Carbon Capture and Storage (CCS) and solar power sets the benchmark for new LNG globally.”
Asked whether Shell will be interested in partnering with Qatar Petroleum in the expansionary phase of North Field production, Faulkner replied, “Absolutely.”
He said, “Shell has a strong history in Qatar, and we are interested in new opportunities to deliver long-term value to QP, the State of Qatar, and Shell. Personally, I think and am confident that with Shell’s strong global LNG footprint, our diverse customer base and our LNG marketing capabilities – in combination with Shell’s operational experience in Qatar – we will be a value adding partner on NFE – complementing of course QG’s already excellent operational record. We look forward to continuing to support QP’s strategic ambitions through NFE and beyond.”
Shell is one of the largest international investors in Qatar, and according to Faulkner, the global energy giant has invested more than $21bn over the past decade.
On the future of Qatar’s energy industry, Faulkner, who is an industry veteran with nearly four decades of experience in multiple parts of the world, said, “Qatar has a unique position and the future looks bright. The way in which the country embraces its role as the largest LNG producer in the world is very impressive. The North Field expansion is a great example of its continued ambition to grow its production and contribution to the LNG market.
“Qatar is clearly embracing the importance of the ongoing energy transition and is investing in new energies, such as the solar plant currently nearing completion. It has also made it clear that it will take responsibility to produce its natural gas resources in a more environmentally sensitive way. That combination is powerful, and therefore I strongly believe Qatar will have a prosperous future.
“I also believe that natural gas has the potential to play a key role in the future energy mix. That being said, we, as an industry, need to continue to build the environmental and financial case for gas, and encourage governments to introduce policies and regulatory frameworks that support cutting carbon emissions. That would secure a great demand for gas across the globe in the long term.”
Asked whether Shell will participate in some renewable projects in Qatar as the country is giving a push to renewable energy, solar in particular, Faulkner said, “Tackling climate change is an urgent challenge. Shell will contribute to a net-zero world, in which society stops adding to the total amount of greenhouse gas emissions. That is why we have set a target to become a net-zero emissions energy business by 2050, in step with society and our customers. This supports the more ambitious goal to tackle climate change, as laid out in the UN Paris Agreement.
“In Qatar, we will continue our journey to lower our environmental footprint and help Qatar to produce its energy in an environmentally sensitive way. Our operations in Ras Laffan are optimised via synergies with operators like Gasal and Kahramaa. We continuously explore opportunities for carbon abatement, capture, and storage. We also work with QP on reducing methane emissions across the natural gas value chain. Our R&D colleagues have just concluded the experimental phase of industrial biosludge utilisation research in Qatar, in collaboration with the Ministry of Municipality and Environment, and Texas A&M University at Qatar.
“Moreover, we will continue our discussions with QP on other possible renewable energy opportunities.
“Overall, Shell is determined to play a leading role in helping society to tackle climate change. We will continue to drive innovation to provide a cleaner energy that our customers need, and work with our partners and customers, including here in Qatar.”
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Qamco reports nine months net profit at QR521mn
Germany is a key destination for Qatari investments, says chamber official
Qatar-Korea trade reaches $5bn in H1 2021 says, Qatar Chamber official
Qatar, Paraguay review co-operation ties
‘Cyber resilience reshapes cybersecurity’, says Seetharaman
Sheikh Mohamed receives Paraguay's minister of industry and commerce
Local fintech player brings Apple Pay to Qatari market
QSE brokerages' turnover largely expands y-o-y in September
Profit booking pressure weighs on sentiments on QSE