Doha: QatarEnergy will be the largest LNG trader in the world within five to ten years, said the Minister of State for Energy Affairs and the President and CEO of QatarEnergy, H E Eng. Saad bin Sherida Al Kaabi, at the London Energy Intelligence Forum, which is currently being held in the British capital.
"QatarEnergy is selling about five to ten million tons of LNG and the company will become the world's largest LNG trader over the next five to ten years," Eng. Al Kaabi said.
He stated that huge quantities of Qatar's gas production will be sent to Europe in the coming period, noting that QatarEnergy has adopted a successful partnership model that put it in its current position and proved that it can do this task alone.
"QatarEnergy does its business on a fully commercial basis and is no longer a governmental company," the minister of state said.
His Excellency also expects that energy prices in general will remain high in the foreseeable future, without reaching their peak soon, not even in the next 20–30 years.
Eng. Al Kaabi attributed the reason for the energy crisis in Europe to the goals that it set for itself by reducing net carbon emissions in it to zero as well as adopting the idea that renewable energy sources can replace natural gas, noting that this is the reason why Europeans pay unreasonable prices for energy. He added that gas is not a transitional fuel but a final destination.
Also at the event, Eng. Al Kaabi received the 2022 "Energy Executive of the Year" award, which was presented to him by Energy Intelligence.
Eng. Al Kaabi paid special tribute to the leadership of HH the Amir, saying: "I want to seize this opportunity to offer ample thanks and gratitude to the Amir, HH Sheikh Tamim bin Hamad Al-Thani, for his unlimited support to the energy sector and to me personally."
He also paid tribute to the efforts of the Deputy Amir, HH Sheikh Abdullah bin Hamad Al-Thani, Chairman of the Board of QatarEnergy, and to his continuous guidance and support.
His Excellency said, "This is an honour that I share with generations of Qataris and expatriates from all over the world, who challenged the elements and the hardships of this industry, and who worked with dedication and commitment, day and night, putting QatarEnergy and the State of Qatar firmly on the global energy map. This includes all our partners and every single member of every component of the widest spectrum of Qatar's energy sector. "
The minister was elected earlier in the year by the leaders of the world's top energy companies in the Energy Intelligence Top 100 rankings, making him the 26th winner of the prestigious award.
The selection process for the Energy Executive of the Year award—formerly known as the Petroleum Executive of the Year award—is administered by Energy Intelligence. The group gathers nominations from the heads of the world's 100 largest oil and gas companies and stakeholders, as determined by the annual Energy Intelligence Top 100 rankings. Winners are chosen by a vote of the selection committee, comprised of previous award winners and senior industry executives.
