The State of Qatar took part in the 7th LNG Producer – Consumer Conference 2018 that was held today in Nagoya City in Japan. H.E. Dr. Mohammad Bin Saleh Al-Sada, Minister of Energy and Industry, headed Qatar’s delegation.
In his speech at the opening ceremony, H.E. Dr. Al-Sada said that gas was forecast to be the fastest-growing fossil fuel in the global energy mix. He added that the growth rate of LNG has surpassed all other sources of energy.
H.E. stressed that the second wave of LNG-production, led by the addition of four world-class LNG trains in Qatar, besides upcoming substantial producing facilities in USA, Mozambique, Canada and other countries will further boost international LNG trade. Dr. Al-Sada said that the growing LNG trade was a second revolution of natural gas, and a natural evolution to meet the rising need for cleaner energy, delivered at the doorstep of consumers around the world.
The Minister also added that, by 2040, LNG was expected to exceed the volumes of natural gas delivered by pipeline and will make up the bulk of gas trades for the first time.
He highlighted that Qatar, with its 77 million tons exports, stood as the biggest LNG supplier, accounting for nearly one fourth of the global LNG trade. He added that, in 2017, His Highness the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, instructed to increase LNG production by 43% from the current 77 to 110 million tons per annum. This production is planned to commence by 2024, thereby largely contributing to global efforts to bridge the gap between the supply and demand of LNG, which is expected to emerge starting from mid 2020s due to demand growth.
Dr. Al-Sada emphasized that Qatar placed its relationship with its customers on top of its priority list. He added that the unjust and illegal blockade by its neighbors, Qatar had not missed out a single shipment to its valued customers worldwide.
Dr. Al-Sada met on the sidelines of the conference with Mr. Dan Brouillette, US Deputy Secretary of Energy. The two sides discussed matters of common interest in the field of energy. H.E. also met with Mr. Fatih Birol, IEA Executive Director and discussed the latest developments in the oil and gas markets.
The LNG Producer-Consumer Conference is a global annual forum, providing an opportunity to promote active dialogue among LNG producers, consumers and other stakeholders with a view to deepening shared understandings of market trends and to developing the global LNG market.