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Saad bin Sherida Al-Kaabi, Minister of State for Energy and CEO of Qatar Energy, announced at the 20th International LNG Conference in Canada that 40% of the total amount of new LNG that will enter the market by 2029 will be received from Qatar Energy.

Al-Kaabi noted that with the growth of the world's population, there will be a constant need for natural gas as a cleaner fossil fuel for the operation of factories and electricity generation, New Arab reports.

He explained that the Qatari Energy Company is working to increase production to 126 million tons per year in addition to its project in the United States, which will supply the world with 16 to 18 million tons of LNG per year.

The State Minister pointed out that Qatar has the largest carbon dioxide sequestration site in the Middle East and North Africa, as it is working on pumping more than two million tons of carbon dioxide per year, and this figure will increase to 11 million tons within a few years. He noted that the carbon emissions from LNG in Qatar are the lowest in the world.

Al-Kaabi called for a responsible dialogue on the transition to low-carbon energy, stressing that the "demonization" of oil and gas has led to a significant decrease in investment in the sector, 25% over the past ten years. He added that the market has not witnessed a significant impact of this inevitable downturn, but stocks cannot be easily replenished, and investments in this sector lag behind market needs.

The Minister explained his point of view on the talks about switching to low- carbon energy and the need to abandon oil and gas. "We cannot be selfish and demand the abolition of oil and gas when a billion people do not have basic electricity," he said.

He explained that by 2050 there will be two billion new people in need of energy, and that developing countries will need more energy to raise living standards.

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Photo: energyintel.com