Saad Sherida Al-Kaabi, Qatar’s Energy Minister and the President and CEO of Qatar Petroleum, has argued that the ‘post COVID-19 era will help increase the competitiveness’ of LNG.
In his remotely-delivered keynote address to the 9th Japan LNG Producer-Consumer Conference, the Energy Minister said: ‘I have no doubt that the best for the LNG industry is yet to come. And despite the stress that the pandemic has placed on national economies and the LNG markets, I think it is important to look at the brighter side: I believe that the economic and environmental realities of the post COVID-19 era will help increase the competitiveness of this cleanest of fossil fuels.’
Al-Kaabi also highlighted Qatar Petroleum’s plans for continuing LNG growth: ‘In 2017, we announced our intention to increase our LNG production capacity to 100 million tonnes per year. Such target was then increased in 2018 to 110 million tonnes per annum, and again, as we obtained more data on the capability of our giant North Field, the target was increased in 2019 to 126 million tonnes per year by 2027. As history has shown, we don’t expect to stop at 126 million. We continue to strive to develop our natural gas resources and lead the way in the world’s LNG value chain.’