Oil and gas sector experts affirmed the position enjoyed by the State of Qatar in the global gas industry and its role in supplying global markets with gas, which is expected to be strengthened in the coming period with the launch of the North Field Expansion Project.
They pointed out in statements to Qatar News Agency that the North Field expansion project comes in response to the markets’ need for gas, especially in light of the changes taking place in the energy sector and the use of gas as a fuel for the transitional phase as it is a source of clean energy.
In this context, former CEO of Qatar Chemicals Company and Qatar Fuel Additives Company (QAFAC) and Chairman of the Board of Directors of Coreinfo Consultancy Company, Nasser Jeham Al Kuwari, told QNA the State of Qatar’s launch of a massive North Field Expansion Project, the largest natural gas field in the world, represents a decisive step in the State of Qatar’s strategic economic growth and enhances its vital role in the global liquefied natural gas (LNG) market.
Al Kuwari added with the North Field Expansion Project passing through the foundation stone laying stage, the energy industry in Qatar will enter a historical development, as the first phase aims to escalate annual production from 77 million tons to 110 million tons, the next stage will lead to achieving a remarkable figure of 126 million tons annually so that the Qatari gas industry will set new standards and ceilings in the field of natural gas production.
It is expected that this significant increase in production will significantly contribute to enhancing economic diversification and flexibility in the State of Qatar, confirming its position as the largest exporter of LNG in the world.
He continued that this expansion project will significantly drive foreign investment, create job opportunities, and promote sustainable economic development.
Al Kuwari explained that the impact of this expansion project extends beyond the borders of Qatar, and is expected to contribute significantly to the stability and flexibility of global liquefied natural gas markets in light of the changing landscape of the energy sector, pointing out that the increase in LNG production ensures reliable and expanded supplies to meet growing demand, especially in emerging markets. This initiative reaffirms the State of Qatar’s commitment to enhancing clean energy security around the world.
He noted the extent of the project’s commitment to sustainability controls and respect for the environment, saying that the North Field Expansion Project identifies a remarkable commitment to environmental sustainability by adopting very advanced technology and practices to reduce the carbon footprint in line with the Qatar National Vision 2030 and international environmental obligations.
Former CEO of Qatar Chemicals Company and Chairman of the Board of Directors of Coreinfo Consultancy Company stressed the strategic importance of the North Field expansion project as a cornerstone in achieving the nation’s ambitious economic structure and enhancing the global energy infrastructure.
These endeavors embody Qatar’s progressive vision, promote a resilient economy, and enhance sustainability in the field of global clean energy, adding that there is no doubt that the State of Qatar thanks all the major global partners participating in the North Field Expansion Project, stressing its cooperative approach towards achieving goals in the field of clean energy for the nation and the world.
In turn, the former Director-General of the Qatar Electricity and Water Company (QEWC) and former member of the Board of Directors of QatarEnergy, Fahd Al Mohannadi, highlighted to QNA the pioneering role that the State of Qatar plays in the global gas industry, pointing to the increasing importance of gas with the changes taking place in the global economy and the increasing demand for the product as a clean source of energy, especially with the transition phase that many markets, as the Asian markets aim to reduce levels of global warming.
Al Mohannadi said the Asian market has a great tradition of dealing with Qatar as it is one of the largest suppliers of Qatari gas, especially Japan, South Korea and India, indicating that the coming period will witness a further strengthening of this relationship with the expectation of concluding several agreements to supply the countries of this continent with gas, in addition to the rest of the markets, especially in Europe and the Mediterranean region with many countries moving towards building stations to receive gas.
He pointed out that the long history of the energy sector in Qatar has proven that the state is a reliable partner that has supplied the markets with various products despite the changes witnessed in the markets and the geopolitical changes regionally and internationally, relying on its management of an integrated chain in the gas industry starting from production all the way to re-liquefaction after transporting it through its fleet of tankers which is the largest in the world.
At the end of his statement to QNA, Al Mohannadi hailed Qatar’s ability to meet customers’ gas needs in the required quantities in various countries of the world due to the availability of its fleet of gas tankers of all sizes.
Source: Qatar News Agency