Dr Mohammad Bin Saleh Al-Sada, Minister of Energy and Industry is currently on official visit to Japan to attend the 6th LNG Producer-Consumer Conference in Tokyo – Development of LNG Markets in Asia.
In his keynote speech at the conference, Dr Al-Sada said that natural gas is steadily becoming the fuel of choice across the globe, and the ideal and practical bridge towards a lower carbon future. He said that natural gas has the highest projected annual growth rate of about 2% for the next 15 years and pointed out that LNG is expected to grow at more than double this rate, ranging between 4% and 5%, and that its use will extend beyond power to include long-haul transport and marine sectors.
Dr Al-Sada also reiterated that Qatar highly values its relationship with customers and would not compromise its image as a reliable supplier, even under unfortunate circumstances. The Minister said that the illegal and unjustifiable blockade that has been imposed on Qatar since last June, has not prevented it from honouring its contractual commitments and time schedules, without missing on even one shipment, including supplies to one of the blockading countries. He added that Qatar has not even invoked the legally viable Force Majeure option, driven by its belief that brothers should not be penalised for the political misadventures of their governments.
Minister Al-Sada expressed Qatar’s appreciation to all countries, partners and customers who have stood by us in these testing times.
Dr Al-Sada highlighted Qatar’s determination to remain a leading player and a reliable supplier of LNG. He said that such strategy was evident from the recent visionary directive of His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the State of Qatar, to lift the moratorium on the development of its North Field reservoir, resulting in an increase in Qatar’s LNG production by 30% to 100 million tonnes per annum by 2024. He added that Qatar was also in the process of merging its two giant LNG companies Qatargas and RasGas to enhance the efficiency of the new entity and its market outreach, aimed at serving its customers better and at maximizing its economic feasibility.
Minister Al-Sada had earlier met with a number of senior officials from Marubeni, Mitsubishi, Japan LNG, Itochu and Chiyoda. He will also meet with senior officials from more Japanese energy companies and head Qatar’s delegation to the 11th Qatar-Japan Economic Committee meeting.