Qatar State Corporation Rebrands to Focus on LNG Energy Transition
Qatargas, owned by state-owned Qatar Energy, has changed to Qatar Energy LNG to highlight the role that liquefied natural gas plays in energy transition and security.
History of Qatar Energy
In 1939, Dukhan 1 was the inaugural well drilled in Qatar Energy’s history. Development continued after World War II and by 1949 crude exports started and offshore concessions were granted. Idd Al-Shargi and Maydan Mahzam fields were discovered in 1960 while Bul Hanine, one of Qatar Energy’s major offshore fields, was discovered and brought onstream in 1972 – leading to Qatar Energy being established that year.
Why LNG
Over the past century alone, its influence on society is immeasurable – from powering homes and factories, accelerating production and innovation, helping billions migrate across borders for livelihood or better opportunities, all to keeping human society secure with reliable supplies of energy. Our global prosperity depends on it!
At present, Qatar is undertaking the North Field East Project (NFE), designed to increase our LNG production from 77 million tons annually currently to 110 million tons annually – representing phase one of Qatar’s planned LNG expansion. Phase two – The North Field South Project – NFS – will further increase Qatar’s capacity from 110 million tons per year up to 126 million tons per year.
Natural gas plays a pivotal role in meeting energy-poverty by providing needed supplies of natural gas to meet rising energy demands over the coming decades, thus helping eliminate energy poverty altogether. LNG supplies will play a vital role in satisfying this growing energy need and fulfilling this requirement for global supply.
Qatar Energy, which owns Qatargas, announced the change Thursday as part of an increase in international recognition of Qatar’s contribution in meeting global energy demand, specifically natural gas — one of the cleanest fossil fuels.
Qatar Energy stated, “This demonstrates Qatar Energy’s continued dedication to LNG as an essential energy source and enabler of the energy transition,” while also noting its continuing dedication.
Qatar Petroleum (QP), under pressure to show progress on energy transition in time for Glasgow COP26 climate summit, changed to Qatar Energy as part of a campaign launched in 2020 by its parent company Qatar Petroleum to appear more progressive on climate issues.
Qatar Energy has not pledged a commitment to net zero emissions from its Upstream operations; therefore, rebranding Qatargas as Qatar Energy could be seen as a strategic move ahead of COP28 Climate Summit likely taking place this year in United Arab Emirates.
Qatar Energy is investing billions of dollars to increase LNG production capacity from 77 million tonnes per annum currently to 126 million tonnes per year by 2027.
Qatargas (now Qatar Energy LNG) is leading Qatar Energy’s expansion plans of massive proportions in Qatar’s LNG expansion efforts.
Qatar Energy CEO Saad Sherida Al Kaabi recently noted that LNG remains at the core of any realistic energy transition strategy and plays a vital role in providing energy security while eliminating energy poverty.
