Doha: QatarEnergy Trading's remarkable growth trajectory was highlighted by HE Al Kaabi, State Minister for Energy Affairs, as the organization gears up for further expansion.
According to Qatar News Agency, Al Kaabi emphasized the rapid progress of QatarEnergy Trading, which has been operational for only a few years. The company is currently engaged in trading approximately 10 million tons of LNG through physical trading. With the inclusion of operations in the United States, production is projected to reach 160 million tons of LNG. The fleet, currently comprising 70 LNG ships, is set to expand with an additional 128 ships in the coming years, bolstering the thriving trading environment.
Al Kaabi also elaborated on Qatar's strong ties with Asian markets, particularly China and India. He noted that Qatar remains the largest LNG supplier to China, which is the country's biggest buyer. Discussions are ongoing with China and India regarding additional volumes, along with several other countries, underscoring the robust demand in the region.
In a related development, Al Kaabi, who also serves as the Chairman of Qatar Airways, acknowledged the airline's substantial profits, attributing the success to the leadership, staff, and loyal clients. He praised the dedication of the pilots, crew members, ground staff, and emphasized the need to maintain the current momentum to ensure consistent profitability.
Regarding the recent entry of Riyadh Airlines into the regional aviation market, Al Kaabi expressed support for Saudi Arabia's expansion in the airline sector, extending Qatar Airways' willingness to assist. He noted Saudi Arabia's large population and vast market potential, wishing the new airline success in its endeavors.
Meanwhile, Ryan Lance, Chairman and CEO of ConocoPhillips, commented on the stability of US shale oil production, contingent on oil prices remaining between $60-$65 per barrel. He warned that production could decline if prices fall below $50 per barrel, reflecting the sensitivity of the market to price fluctuations.