(MENAFN- The Peninsula) The Peninsula
DOHA: H E Dr Mohammed bin Saleh Al Sada, Minister of Energy and Industry has said that the world is currently transitioning towards a cleaner environment and stressed the need for higher investments in technology to make the planet a better and cleaner one.
Al Sada was participating in a panel discussion on 'Oil and Gas in a World of Transition as part of 2018 CERAWeek by IHS Markit conference that was held in Houston.
Dr Al Sada emphasised that the way to achieve the goal for a cleaner planet was to increase investment in technology. The use of fossil fuel in a balanced way would help avoid damaging the environment, he said.
During his visit to the US, the Minister also participated in the Opec Ministerial Roundtable which was held on the sideline of the conference under the title 'Climate and Sustainability.
During the session, Al Sada highlighted Qatar's status as a reliable producer of cleaner sources of fuel. He noted that demand for fuel will remain high and so investment in new technology is necessary to limit climate change.
Dr Al Sada also participated in a panel session on the alliance between Opec and non-Opec producers. Joined by Opec Secretary-General, ministers of energy from Kuwait, Equatorial Guinea and Kazakhstan, the panel reviewed the way Opec managed to form the successful alliance with a number of non-Opec producers to cut production with a compliance rate over 100 percent.
The Minister said that the historic agreement aimed at restoring balance to the oil market to the benefit of both producers and consumers alike.
The panel praised the efforts exerted by Qatar as president of Opec during 2016 and most of 2015 in engineering the historic agreement and emphasised its position as an influential authority in the fields of gas as well as oil.
Cambridge Energy Research Associates (CERA) was formed in 1983 in Cambridge, Massachusetts. The energy research and consulting firm quickly became known for its critical knowledge and independent analysis on energy markets, geopolitics, industry trends, technology and strategy. The conference is distinctive in the extraordinary depth and breadth of its content and the quality of the dialogue among participants.
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