Gas will be needed for most nations for decades well beyond 2050, noted Saad Sherida Al-Kaabi, Qatari minister of State for Energy Affairs, president and CEO of QatarEnergy.
Speaking at the 12th LNG Producer-Consumer Conference held in Tokyo, Japan, Al-Kaabi stressed the need for a clear roadmap with specific targets to achieve a fair and effective energy transition.
“We strongly believe that gas will be needed as a safer reliable base load in the energy mix for most nations, for decades well beyond 2050,” the Qatari minister pointed out.
Al-Kaabi stated that “Qatar is providing the world with the cleanest available hydrocarbon source of energy which has met both the economic and environmental aspirations for a better future. By 2029, about 40% of all new global LNG supplies will be provided by QatarEnergy projects.”
Furthermore, QatarEnergy’s president and CEO said that ”these projects will achieve significant reductions in greenhouse gas emissions through carbon capture and sequestration as well as the use of solar energy. In all, we aim to reduce the overall carbon intensity by about 30% compared to previous generation designs.”
“The world needs a fair and effective transition with a realistic and stable path, which wisely balances humans flourishing with environmental protection. It should not continue to only focus on the needs of the rich and well-developed countries but must prioritize the needs of developing countries,” the Qatari minister added.
Highlighting the challenges facing the energy industry, Al-Kaabi said: “Lack of investments in the oil and gas upstream sector remain as an unresolved and unchallenged chronic problem, contributing to greater lack of clarity, volatility, and supply uncertainty. This lack of investment will likely cause increased instability for every region around the world.”
