Qatar Petroleum (QP) President and CEO Saad Sherida Al Kaabi said the company is highly competitive, very reliable, and ready for the future. He made the remarks when he delivered the keynote speech during the opening of the Oil & Money Conference held in London under the theme ‘the New Energy Map’.
Al Kaabi said that Qatar Petroleum is investing in safety, efficiency, reliability, technology, preserving the environment, and most importantly, human capital.
The first day of the event was devoted completely to gas, the changing position of gas in corporate portfolios, long-term threats to gas demand in power generation, and what it all means for the world’s largest gas producers.
Al Kaabi highlighted Qatar’s role in helping meet the growing global demand for energy.
We in Qatar take special pride in our global reputation as a trustworthy and reliable energy producer. In this respect, I am proud to say that Qatar has lived up to its international reputation as a reliable and trustworthy energy producer at all times and under all circumstances. We safely and reliably delivered more than 12,500 LNG cargos in 22 years without missing a single cargo.’
He said that they are continuing this legacy and growth, with the increase in Qatar’s LNG production capacity to 110 MTA by 2024, an increase of about 43% from the current production capacity of 77 MTA. The new expansion project will give the company the extended ability and flexibility to meet additional global demand while further boosting QP’s strategic growth plans. QP is developing its capabilities in many parts of the world with a target of increasing production capability from 4.8 to 6.5 million barrels of oil equivalent per day in eight years.
According to Al Kaabi, the recent developments in the global gas industry and the changing attitude towards gas as the cleanest of all fossil fuels has resulted in many countries ‘rejecting’ the economic and environmental cost of total and absolute reliance on oil.
The combined change effect of financial burdens and environmental awareness is helping re-shape the energy landscape towards less oil, and more cleaner sources of energy and renewables.’
He also reviewed the changing energy landscapes stressing that amidst all these changing landscapes, natural gas remains as the one great middle ground that has both the economic and environmental benefits.
Talks with Global Industry Leaders
The QP chief also held talks with global industry leaders on the sidelines of the conference. These meetings were focused on issues related to the gas industry and bilateral cooperation.
The 39th annual Oil & Money Conference is co-hosted by The New York Times and Energy Intelligence. It was participated by senior executives, policymakers, financiers, strategists and experts from the international oil and gas industry.
The conference has earned a reputation as a forum for frank discussion and stimulating debate on key issues facing the global petroleum sector. With a programme of speakers and panelists from the world’s leading oil companies and oil producers, Oil & Money offers high-level networking opportunities with international business leaders and opinion makers.
For more information about the conference, visit oilandmoney.com.