(MENAFN- The Peninsula) H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, said yesterday that the State of Qatar is moving forward with implementing its mega projects that will see its LNG production rise from 77 to 126 million tonnes per annum (mtpa) by 2027.
'This will not just enhance our ability and flexibility to meet additional global demand, but will also help the shift to less carbon intensive energy in many parts of the world, H E Al Kaabi said.
He added: 'In parallel, the State of Qatar remains focused on achieving the highest environmental standards in its LNG industry to significantly reduce emissions by applying the best available industry technologies and CO2 sequestration.
This came as H E Al Kaabi was addressing an event held by the Doha-based Gas Exporting Countries Forum (GECF) on the occasion of unveiling the GECF's ‘Global Gas Outlook 2050'.
H E Al Kaabi also said that Qatar was looking forward to host the 6th GECF summit of heads of states in Doha in 2021.
The Minister of State for Energy Affairs said: 'While fossil fuels will continue to dominate the global energy mix, natural gas will be the only form of hydrocarbons to increase its share during the next 30 years. Today, the share of natural gas in the global energy mix stands at about 22 percent. By 2050, this is expected to rise to 27 percent, according to the outlook, which is being launched today.
His Excellency praised the launch of the Global Gas Outlook 2050, which sheds light on the expected road ahead during the next three decades and offers an important view of the challenges and opportunities we can expect along the way.
'There is no doubt that living in today's world, one can easily feel the economic and geopolitical pressures that are impacting free trade, economic competitiveness, industrial activity, energy demand and price levels affecting most, if not all nations around the world.
Concerns over a slowdown in world economic growth and a looming global recession are also challenges that have a significant impact on the prospects of energy demand and consumption, he added.
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