Doha, October 11 (QNA) - HE the Minister of State for Energy Affairs, the President and CEO of QatarEnergy Saad bin Sherida Al Kaabi announced that Qatar Petroleum has changed its name to QatarEnergy.
With a news 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.
This follows a history evolution that saw Qatar Petroleum Company (QPC) transform into Qatar General Petroleum Corporation (QGPC), then becoming Qatar Petroleum (QP) twenty years ago, and QatarEnergy (QE) today.
In making the announcement, HE the Minister of State for Energy Affairs, the President and CEO of QatarEnergy Saad bin Sherida Al Kaabi provided and overview of the historic millstones 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 also 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 int 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 Al-Shaheen, Idd Al-Shargi, and Al Rayyan oil fields.
"Moving forward," His Excellency said, "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 tons per annum by 2027. Not only that, but we are making sure that we protect our environment my keeping our carbon footprint at a minimum. This is why we are utilizing sophisticated carbon sequestration methods to capture and sequester 9 million tons of CO2 per annum by the end of this decade." HE Minister Al 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." In concluding his remarks, HE the Minister of State for Energy Affairs, the President and CEO of QatarEnergy Saad bin Sherida Al Kaabi said, "Becoming QatarEnergy reflects our understanding of the global changes and our response to the need to protect our planet and int 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." "I would like to thank all our employees, past and present, for their dedicated and diligent efforts which let to this moment, My thanks are also extended to the member of our Executive team as well as our companies, affiliates,and joint ventures, We are greatly indebted to HH the Amir Sheikh Tamim bin Hamad Al-Thani, for his continued and unlimited guideline and support," HE the Minister of State for Energy Affairs concluded.
QatarEnergy powers lives in every corner of the world for a better tomorrow for all. QatarEnergy is the energy transition partner. (QNA)