Minister of State for Energy Affairs, President and CEO of QatarEnergy H E Saad bin Sherida Al Kaabi announcing the change of name of Qatar Petroleum to QatarEnergy in an event held at The Four Seasons Hotel, yesterday. Pic Salim Matramkot
Minister of State for Energy Affairs, President and CEO of QatarEnergy H E Saad bin Sherida Al Kaabi announced yesterday change of name of Qatar Petroleum to QatarEnergy, marking a major turning point in the company’s history.
Unveiling the new logo and brand identity at an event held yesterday, Minister Al Kaabi said: “With a new logo and brand identity, QaterEnergy will continue to deliver the cleaner energy that the world needs, and to play its role as an active global partner in the search for better solutions in the ongoing energy transition”.
Change in the company’s name follows a historic evolution that saw Qatar Petroleum Company (QPC) transform into Qatar General Petroleum Corporation (QGPC), then becoming Qatar Petroleum (QP) 20 years ago, and now QatarEnergy (QE).
Minister AI Kaabi said: “Moving forward we are moving full steam ahead to develop the North Field by building state-of-the-art LNG trains that would take our leadership position further with a production capacity of 126 million tonnes per annum by 2027. Not only that, but we are making sure that we protect our environment by keeping our carbon footprint at a minimum. This is why we are utilising sophisticated carbon sequestration methods to capture and sequester nine million tonnes of C02 per annum by the end of this decade.”
The Minister provided an overview of the historic milestones that have driven this transformation, including first oil discovery in 1938, the discovery of the world’s biggest non-associated gas field in 1971, and eventually becoming a global LNG leader.
Minister AI Kaabi said: “Natural gas is our core business, and we are conducting that in the most responsible way. Natural gas is also part of the solution in the ongoing energy transition and that it will be a requirement for sustaining the development of the world for at least a few decades.”
Addressing the gathering, H E the Minister provided an overview of the historic milestones that have driven this transformation, including first oil discovery in 1938, the discovery of the world’s biggest non-associated gas field in 1971, and eventually becoming a global LNG leader.
He shed light on how Qatar Petroleum has evolved over the past seven years, which saw a major restructuring in 2014, bringing marketing affiliates such as Tasweeq and Muntajat into QP, and conducting one of the world’s largest mergers in the gas business to create the leader in the energy business worldwide — Qatargas. This also included taking over the management and operation of major energy resources such as AI Shaheen, Idd Al Shargi, and Al Rayyan oil fields.
“Becoming QatarEnergy reflects our understanding of the global changes and our response to the need to protect our planet and its environment. Not only will our LNG projects bring additional cleaner energy to customers across the globe, but we will continue our heightened commitment to our central role in the global energy transition,” said Minister Al Kaabi. “I would like to thank all our employees, past and present, for their dedicated and diligent efforts which led to this moment. My thanks are also extended to the members of our Executive team as well as our companies, affiliates, and joint ventures. We are greatly indebted to Amir H H Sheikh Tamim bin Hamad AI Thani for his continued and unlimited guidance and support,” he concluded.
