Qatar's energy sector is moving towards renewable energy: Minister

Published March 30th, 2017 - 08:36 GMT
Qatar is the second largest exporter of natural gas in the world. (Pixabay)
Qatar is the second largest exporter of natural gas in the world. (Pixabay)

The Qatari Minister of Energy and Industry Mohammed bin Saleh Al Sada stressed that the strategy of Qatar's energy sector will focus on renewable energy in the coming phase as the ministry currently works to execute a mega solar power venture at a capacity of 500 megawatt.

Dr Al Sada was speaking in the session on energy and industry projects on the sidelines of Qatar-UK Business and Investment Forum, which kicked off Monday in London.

The minister said the energy sector has a strong contribution to achieving a substantial growth and diversity for the Qatari economy, noting that there is a growing demand for energy in Qatar.

Despite the increasing demand for energy and water in Qatar, Dr Al Sada said, the ministry is not only working to meet these demands but also to achieve a surplus.

As for commercial ties between Qatar and the United Kingdom in the energy sector, Al Sada said that nearly 5 million UK households receive Qatari natural gas as the UK buys around 20 percent of the Qatari gas, adding that the UK relies heavily on Qatar in terms of liquefied natural gas supplies.

Qatari energy firms are highly competitive in the UK market despite the strong competition with other foreign energy-exporting companies to the UK, the minister added.

Dr Al Sada renewed his call to UK and foreign energy firms to invest in Qatar's energy sector, especially as the country offers motivations for companies that introduce new and advanced technology to the energy sector and allows it to own 100 percent of shares.

For his part, Qatar Petroleum President and CEO and Qatargas Chairman, Saad Sherida Al Kaabi, said the exit of the UK from the EU will not affect the investments of Qatari companies in the UK energy sector, stressing that the UK has an investment-friendly environment on the long-term.

Al Kaabi added that the focus is now set on turning Qatar Petroleum into an international company of worldwide presence, adding that the company is working to develop its marketing sector to achieve that strategy. As for Qatari- UK ties in the energy sector, Al Kaabi said the company is now investing in gas pipelines in Pakistan in order to enable it to import Qatari gas, adding that Qatar Petroleum is about to sign a gas exploration agreement in Cyprus.

In his speech before the "energy and industry projects" session, UK Energy Minister Jesse Norman said his country aims to open up to the world and build strong commercial ties.

 


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