(MENAFN- Gulf Times)
'Lack of new investments was putting heavy burden on both producers and consumers', HE the Minister of State for Energy Affairs said at the 11th LNG Producer-Consumer Conference, which was hosted and held virtually from Japan. HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi has called for“greater co-operation between LNG producers and consumers,” which he said,“will not only deepen the roots of economic stability and growth, but also drive an environmental benefit to us all.”
He was delivering a keynote address at the 11th LNG Producer-Consumer Conference, which was hosted and held virtually from Japan.
HE al-Kaabi, also the President and CEO of QatarEnergy, 'emphasised the need for a fair and effective transition towards our future ideas in which we can balance the needs for economic development with our climate ambitions.'
“Without a realistic stable path towards the reduction of our carbon footprint, we will become more vulnerable to extreme climate change events.”
Al-Kaabi said:“Lack of new investments was putting a heavy burden on both producers and consumers. Producers must find supplies that may not exist due to lack of investment, and consumers helplessly pay record prices as a result of a complex situation not entirely within their control.”
“Today's geopolitical and economic volatility is another grim reminder of the need to decisively act upon our words, and that a wait-and-see approach to the crisis can only come with higher economic and environmental cost, especially when the next crisis comes,” he added.
Al-Kaabi spoke about how the State of Qatar was delivering on its cleaner energy and environmental commitments, highlighting projects like the North Field Expansion, the recently announced world-scale blue Ammonia plant, the QatarEnergy LNG shipbuilding programme, carbon capture and sequestration, and renewable solar production.
He said:“These investments speak to the concrete steps we are taking to lower the carbon intensity of our energy products and provide the world with lower carbon energy products that constitute the backbone of a responsible and realistic energy transition.”
The LNG Producer-Consumer Conference is a global annual dialogue launched in 2012, and organised by Japan's Ministry of Economy, Trade and Industry, and the Asia Pacific Energy Research Centre. It provides ministers, heads of international organisations, corporate executives, and other stakeholders with a venue to share the latest trends in the global LNG market and discussing opportunities and challenges with a view to its development.
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