Beijing: HE Minister of State for Energy Affairs, President and CEO of QatarEnergy, Saad bin Sherida Al Kaabi, emphasized that economic growth worldwide cannot be achieved without fuel, particularly highlighting gas as a reliable, affordable, and widely available source. Speaking at a leadership dialogue during the World Gas Conference (WGC) in Beijing, Minister Al Kaabi stressed the significance of gas as the backbone of growth for economies globally, suggesting its role will extend into the next century.
According to Qatar News Agency, Minister Al Kaabi noted the varying energy mixes among countries, influenced by factors such as sunshine, wind, and rain. He highlighted Qatar's progress in solar power, currently meeting 15% of electricity demand, with plans to increase this to 30%. Addressing net-zero goals, Minister Al Kaabi pointed out the challenges faced by countries and companies in meeting these targets by 2050, reiterating Qatar's stance on the difficulty of achieving such commitments without a comprehensive plan.
Discussing Qatar's North Field expansion, Minister Al Kaabi announced the upcoming start of the first LNG train from North Field East by mid-next year, with a production capacity of 32 million tons per annum. He outlined plans for subsequent trains and the transition of North Field West into the construction phase by 2027. Minister Al Kaabi projected an increase in LNG production from 77 million to 160 million tons, positioning QatarEnergy as the largest single LNG exporter and Qatar as the second-largest exporter of LNG globally.
The Minister also addressed QatarEnergy's expansion in the petrochemical industry, with significant projects underway in the United States and Ras Laffan, both expected to commence production by early 2027. These ventures, in collaboration with CPChem, represent the largest single investment by one company.
On the subject of China, Minister Al Kaabi acknowledged its significant growth and ambition in renewables, noting China as Qatar's largest LNG buyer and a key partner in the North Field expansions. The construction of a large number of LNG ships in China is also part of Qatar's extensive shipbuilding program.
The World Gas Conference, themed "Energizing a Sustainable Future," marks its first occurrence in China, with an expected attendance of over 30,000 participants from 70 countries, offering a platform for engagement with global energy markets.