Qatar has the third largest proven conventional natural gas reserves and is the world’s largest producer of Liquefied Natural Gas (LNG) with an annual output of around 77 million tons. RasGas Company Limited (RasGas) produces about half of it – supplying countries across Asia, Europe and the Americas.
This, however, does not predicate that RasGas will be a successful company.
In order to become a major energy supplier to the globe you need a vision, execution, a deep understanding of markets, a robust strategy and good people, according to Khalid Sultan Al Kuwari, chief marketing and shipping executive of RasGas.
Speaking to an audience at Carnegie Mellon University in Qatar during a Dean’s Lecture Series, Al Kuwari added: “Since our inception in 1993, RasGas has grown to become a major LNG supplier to the globe. Our flexible, reliable and timely delivery of clean energy sets us apart from others in the market.”
In order to deliver results, organizations like RasGas need not only worry about producing LNG, but bringing that product to market. To enable this, RasGas, through its major shareholders, Qatar Petroleum and ExxonMobil, invested in the full LNG value chain starting with drilling larger wells and building the world’s largest LNG production trains to managing the largest LNG ships on the seas and investing in world-class LNG terminals around the world. All of this allows cleaner burning Qatari LNG to be delivered to all corners of the globe efficiently and reliably.
In February Carnegie Mellon Qatar and RasGas signed a Memorandum of Understanding (MoU) paving the way for mutually beneficial initiatives and projects, which include providing resources and training for students at Carnegie Mellon.
Commenting on the co-operation, Dr. Ilker Baybars, Dean of Carnegie Mellon University in Qatar, recognized the role of RasGas in helping Carnegie Mellon to prepare future generations to participate in the implementation of Qatar National Vision 2030. Additionally, the MoU laid the foundation for education and training for RasGas staff and the sharing of professional expertise and research in Business Administration, Information Systems and Public Policy.
“Since our first delivery to South Korea in 1999, RasGas has grown to produce and sell nearly half of Qatar’s LNG to markets all across the globe, whilst also producing significant amounts of pipeline gas and associated products. Today, Qatar supplies around 30% of global LNG volumes and in doing so has allowed for great institutions like Qatar Foundation to be built,” added Hamad Rashid Al Mohannadi, chief executive officer of RasGas.
The lecture by the RasGas executives elaborated on the key variables which influence the global energy market and demonstrated how a well thought out marketing strategy can lead to long term success.