Qatar Petroleum has changed its name to QatarEnergy, according to an announcement made yesterday by Minister of State for Energy Affairs and QatarEnergy President and CEO HE Saad bin Sherida Al Kaabi.
With a new logo and brand identity, QatarEnergy will continue to deliver the cleaner energy that the world needs, and to play its role as an active global partner in the search for better solutions in the ongoing energy transition.
The recent change follows an evolution that saw Qatar Petroleum Company (QPC) transformed into Qatar General Petroleum Corporation (QGPC), and into Qatar Petroleum (QP) 20 years ago, and now, QatarEnergy (QE).
HE Al Kaabi provided an overview of the historic millstones that have driven this transformation, including the very first oil discovery in 1938, the discovery of the world’s biggest non-associated gas field in 1971 and eventually, Qatar’s development into a global LNG leader.
The minister also shed light on how Qatar Petroleum has evolved over the past seven years, which saw a major restructuring in 2014, bringing marketing affiliates such as Tasweeq and Muntajat into QP, and being part of one of the world’s largest mergers in the gas business to create the leader in the energy business worldwide – Qatargas. This also included taking over the management and operation of major energy resources such as Al-Shaheen, Idd Al-Shargi and Al Rayyan oil fields.
Moving forward, the minister said that they are moving full steam ahead to develop the North Field by building state-of-the-art LNG trains with a production capacity of 126 million tonnes per annum (MTPA) by 2027.
Not only that, but 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 to capture and sequester 9 million tonnes of CO2 per annum by the end of this decade.
According to HE Al Kaabi, natural gas is the core business, and they are harnessing that in the most responsible way. Natural gas is also part of the solution in the ongoing energy transition. He said that it will be a requirement for sustaining the development of the world for at least a few decades.
In concluding his remarks, HE Al Kaabi said that becoming QatarEnergy reflects their understanding of the global changes and their response to the need to protect the planet and the environment. He said that not only will the LNG projects bring additional cleaner energy to customers across the globe, but they will also continue Qatar’s heightened commitment to the global energy transition.
The minister extended his thanks to all their employees, past and present, for their dedicated and diligent efforts which led the company to this moment. He also thanked the member of the executive team and their affiliate companies and joint ventures, and HH The Amir, Sheikh Tamim bin Hamad Al-Thani, for his continued and unlimited guideline and support.
Source: QNA
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