Page 11 - GLNG Week 41 2021

GLNG MIDDLE EAST GLNG

NFE is the world’s
single largest LNG
project.

QP changes name in nod to energy transition

ENERGY STATE-OWNED Qatar Petroleum (QP) has (NFE) project, which will increase LNG capac-
TRANSITION this week announced that it is in the process of ity to 110mn tpy by 2025/26 and 126mn tpy by
rebranding as QatarEnergy in a nod to a strategic 2027.
shift to focus on more environmentally friendly NFE is the world’s single largest LNG pro-
operations. ject. QP took a final investment decision (FID)
In reality, as the company strives to expand on NFE alone earlier this year, having previ-
gas production and LNG exports, the relevance ously relied on IOCs’ expertise – as well as their
of ‘petroleum’ will continue to diminish with oil investments – to develop its initial liquefaction
production running at around 590,000-600,000 capacity, but now has the expertise to go it alone.
barrels per day (bpd), paling in comparison to Al-Kaabi added: “Not only that, but also we
neighbours Saudi Arabia and the UAE as well are making sure that we protect our environment
as the company’s own gas output which feeds a by keeping our carbon footprint at a minimum.
liquefaction capacity of 79mn tonnes per year This is why we are utilising sophisticated carbon
(tpy). sequestration methods to capture and sequester
HE Saad Sherida Al-Kaabi, Qatar’s Minister 9mn tonnes of carbon dioxide [CO2] a year by
of State for Energy Affairs and QP’s president the end of the decade.”
and CEO, alluded to this during the unveiling of “Becoming QatarEnergy reflects our under-
the new brand and logo. “It’s more of a reflection standing of the global changes and our response
of what we’re actually doing that wasn’t reflected to the need to protect our planet and its envi-
by the name that we had,” he said. ronment. Not only will our LNG projects bring
The minister explained: “QatarEnergy will additional cleaner energy to customers across
continue to deliver the cleaner energy that the the globe, but we will continue our heightened
world needs and to play its role as an active part- commitment to our central role in the global
ner in [the] search for better solutions in the energy transition,” he said.
ongoing energy transition.” Al-Kaabi also said this week that a return to
He noted that the company was “moving OPEC would not fit with the country’s strategy,
full steam ahead” to develop the potential of the as Doha seeks to determine a different path from
North Field through the North Field Expansion those of its neighbours.™

Week 41 15•October•2021 www. NEWSBASE .com P11