Marking a major turning point in its decades-long history, Qatar Petroleum has changed its name to QatarEnergy. This signals a new strategy that focuses on energy efficiency and environmentally-friendly technology such as capturing and storing carbon dioxide
QatarEnergy is utilising “sophisticated carbon sequestration methods” to capture and sequester 9mn tonnes of carbon dioxide a year by the end of the decade, said HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi.
“We are making sure that we protect our environment by keeping our carbon footprint at a minimum. This is why we are utilising sophisticated carbon sequestration methods,” al-Kaabi said at an event Monday, where he unveiled QatarEnergy’s new logo and brand identity.
Marking a major turning point in its decades-long history, Qatar Petroleum has changed its name to QatarEnergy. This signals a new strategy that focuses on energy efficiency and environmentally-friendly technology such as capturing and storing carbon dioxide.
Al-Kaabi noted, “We are moving full steam ahead to develop the North field by building state-of-the-art LNG trains that would take our leadership position further with a production capacity of 126mn tonnes per year by 2027.
Al-Kaabi highlighted, “Natural gas is our core business, and we are conducting that in the most responsible way. Natural gas is also part of the solution in the ongoing energy transition and that it will be a requirement for sustaining the development of the world for at least a few decades.”
“Becoming QatarEnergy reflects our understanding of the global changes and our response to the need to protect our planet and its environment. Not only will our LNG projects bring additional cleaner energy to customers across the globe, but we will continue our heightened commitment to our central role in the global energy transition.”
In March this year, Qatar had joined the World Bank-led Global Gas Flaring Reduction Partnership (GGFR) Multi-Donor Trust Fund, as part of its “commitment to stronger collaborations” in the global effort to reduce flaring or burning of natural gas associated with oil and gas exploration, production and processing operations.
A key part of QatarEnergy’s climate focus going forward is to track and reduce methane emissions throughout all stages of the natural gas value chain and in all facilities.
QatarEnergy signed a set of guiding principles on reducing methane emissions across the natural gas value chain stretching from production to the final consumer in March 2018.
The principles aim to continuously curb methane emissions, stimulate strong performance across gas value chains, enhance the accuracy of methane emissions data, advance sound policies and regulations on methane emissions, and to increase transparency.