The Azerbaijan State News Agency

ECONOMY

Qatari Minister of State for Energy Affairs: Demand for oil and gas will continue for a very long time

Qatari Minister of State for Energy Affairs: Demand for oil and gas will continue for a very long time

Baku, April 29, AZERTAC

Minister of State for Energy Affairs, President and CEO of Qatar Energy Saad bin Sherida Al Kaabi took part in the World Economic Forum's special meeting on global collaboration, growth, and energy for development, which was held in Riyadh, the Kingdom of Saudi Arabia, according to Qatar News Agency.

Speaking at a panel discussion titled "People, Policy, Finance: Realizing an Equitable Energy Transition" the Minister highlighted the important issue of access to energy and the need for a fair energy transition, saying: "There are a billion people who do not have access to basic electricity. There will be anywhere between one and two billion additional people within the next thirty years, who will need access to energy. Therefore, we shouldnt be selfish and just talk about what we want for our house and forget the neighborhood, if you will." His Excellency criticized demonizing oil and gas, saying this will not do humanity any good. He said: "Demand for oil is going to be there for a very long time. You need petrochemicals that wind farms and solar energy cannot produce, and you also need petrochemical plants to make refined products for a very long time. Gas is going to be needed to power the electricity that is needed for expansion and growth. The most important thing is that we all do it in a responsible manner to make sure that humanity can develop and grow.

The minister highlighted Qatar’s CO2 capture efforts from production to ship, saying: "Since 2015, we've been injecting two and a half million tons per annum of CO2 that we're capturing from our LNG facilities. We have been doing that long before anybody was talking about sequestration or capture. Qatar has the lowest emissions in an LNG scheme from production to ship in the world." Highlighting Qatar’s LNG expansion projects in the North Field, which will reach 142 million tons per annum by 2030, His Excellency noted that Qatar "will sequester 11 million tons of carbon from that project. Add to that the construction of 104 LNG ships, all of which will be powered by LNG. We are building the largest blue ammonia plant in the world that has solar power and CO2 sequestration facilities. We are also capturing CO2 from our production sites in the north and sending them via pipeline across Qatar to be injected in the oil field of Dukhan as part of our enhanced oil recovery efforts." His Excellency added: "We are doing our part, and we have many great stories to tell. We are responsible producers but not many care to look at that." HH the Minister of Energy of Saudi Arabia Prince Abdulaziz Bin Salman Al Saud, Commissioner for Energy at the European Commission Kadri Simson, President and CEO of Occidental Petroleum Corporation Vicki Hollub, Chairman and CEO of ExxonMobil Darren Woods, and President of the World Economic Forum in Geneva B?rge Brende participated in the panel discussion.

The panel placed special emphasis on issues related to a realistic and equitable energy transition that will enhance energy’s role as an enabler of development, while achieving global climate goals.

Discussions also tackled prospects for energy markets and global growth, the impact of geopolitical crises, and Qatars leadership and excellence in leading the global efforts for the energy transition.

Energy access and energy security were also high on the panels points of interest, as it remains a prominent challenge amid the energy transition, particularly in emerging and developing markets.

The World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development aims to facilitate dialogue between thought leaders and the broader public on a range of topics, including environmental challenges, mental health, digital currencies, artificial intelligence, and smart cities.

Share news on social media

Follow us on social network

First Vice-President Mehriban Aliyeva congratulated judoka Zelym Kotsoiev on winning world championship title

Azerbaijan, Georgia discuss military cooperation

Azerbaijani female wrestler grabs European bronze in Baku

Various aspects of Azerbaijan-US bilateral agenda discussed

Azerbaijani aerobic gymnasts ready for action in Yokohama

Azerbaijani judoka Zelym Kotsoiev crowned World Champion in Abu-Dhabi

Türkiye’s ship starts gas drilling at Goktepe-2 well in Black Sea

Iran’s President Raisi to be buried in Mashhad

Minister: Restoration work in liberated territories is in line with Azerbaijan’s COP29 obligations

Azerbaijan eyes cooperation with S&P Global Commodity Insights

IRIA Chairperson meets with BHOS female students

Azerbaijani Milli Majlis, Turkish Grand National Assembly discuss interparliamentary cooperation

Israeli war cabinet agrees to resume hostage negotiations with Hamas

Kristi Man: Women's wrestling is developing at rapid pace in Azerbaijan

ANAS revises nearly 30 articles on Wikipedia about Nakhchivan

UN official urges change in lifestyle to combat climate crisis

Azerbaijan’s Kotsoiev advances to final of World Judo Championships Abu Dhabi 2024

Beijing retaliates against US blacklisting of Chinese firms for alleged exports to Russia

Azerbaijani ambassador presented with UAE’s Minister of Foreign Affairs Excellence Award

Leaders of South Korea, China and Japan will meet Monday for their first trilateral talks since 2019

President of Tajikistan Emomali Rahmon concludes his state visit to Azerbaijan

Seven Azerbaijani athletes to compete at Balkan Athletics Championships

Emomali Rahmon: We are optimistic about future development of Tajikistani-Azerbaijani relations VIDEO

President of Tajikistan: We are satisfied with the level of fruitful cooperation with Azerbaijan VIDEO

President Ilham Aliyev: Days of Culture of Tajikistan in Azerbaijan are important event in bilateral relations

President Ilham Aliyev: Signed documents significantly strengthen the legal framework of Azerbaijan-Tajikistan relations VIDEO

Kazakhstan approves maritime infrastructure development plan

President: Azerbaijan-Tajikistan interstate relations reached the highest level today

President Ilham Aliyev: We are counting on active participation of Tajikistan in COP29 VIDEO

"Zero Waste" program will once again be implemented during Baku Energy Week this year

UN relief chief allocates 2.5 mln USD in response to Burundi flooding

SpaceX launches next-gen US spy satellites and sticks the landing

Presidents of Azerbaijan and Tajikistan made press statements VIDEO

Georgia’s Prosecutor General resigns due to “complicated health condition”

Delegation of Bukharian Jews of US and Canada visit Fuzuli, Shusha and Lachin

Julen Lopetegui confirmed as new West Ham boss as former Wolves manager replaces David Moyes

Norway to further restrict entry to Russian tourists from May 29

Azerbaijan’s triple jumper claims bronze at international tournament

Central Bank: $69.6m worth of demand fully covered at FX auction

Emomali Rahmon: Azerbaijan is a reliable friend and partner for Tajikistan

Azerbaijan and Tajikistan signed documents VIDEO

President Ilham Aliyev: Trans-Caspian transport corridor is becoming increasingly popular in European and Central Asian regions

Azerbaijani and Tajikistani Presidents held expanded meeting VIDEO

Doncic leads strong close by Mavericks for 108-105 win over Wolves in Game 1 of West finals

Delegations of defense ministries of Azerbaijan and Serbia hold working meeting

Azerbaijani chess player wins international tournament in UAE

PLA conducts joint military drills surrounding Taiwan Island

Azerbaijani oil price down in global markets

AZAL offers flights to Bucharest and Sofia starting from €99

President of Azerbaijan Ilham Aliyev held one-on-one meeting with President of Tajikistan Emomali Rahmon VIDEO

Azerbaijani MPs to attend NATO PA spring session in Bulgaria

Oil prices fall in global markets

Atalanta 3-0 Leverkusen: Lookman treble brings UEFA Europa League glory to Bergamo

President of Azerbaijan Ilham Aliyev was interviewed by Euronews TV channel VIDEO

Official welcome ceremony was held for President of Tajikistan Emomali Rahmon VIDEO

Mastercard accelerates card fraud detection with generative AI technology

Azerbaijan joins meetings of European Federation of Accountants and Auditors for SMEs

Azerbaijan Army servicemen participate in courses held in Türkiye

First human case of H5N1 detected in Australia

President of Tajikistan visits Alley of Martyrs in Baku

President of Tajikistan visits grave of National Leader Heydar Aliyev in Alley of Honors

Azerbaijani Greco-Roman wrestler takes European silver in Baku

BTA to cover thoroughly upcoming European elections

BHOS hosts ‘Addım At’ forum

President of Tajikistan Emomali Rahmon arrives in Azerbaijan for state visit

Azerbaijan`s Milli Majlis vehemently condemns biased views of Chairman of Luxembourg's Chamber of Deputies

World’s most expensive feather sold in New Zealand auction for $28,000

Man charged with spying for Hong Kong found dead

Prime Minister Ali Asadov attends official commemoration ceremony in Islamic Republic of Iran

® New feature from Birbank: Ninja offers in the mobile app now

Brazil surpasses record 5 mln dengue cases

Istanbul to host 2026 UEFA Europa League, 2027 Conference League finals

Speaker of Azerbaijan`s Milli Majlis meets with Turkish parliamentary delegation

Azerbaijan, Türkiye discuss prospects for military cooperation

Date of Baku-hosted 2025 Minifootball World Cup revealed

Istanbul hosts 2nd Meeting of Presidents and Representatives of Councils of Judges of OTS member and observer countries

People in Iran bid farewell to late president VIDEO

Students of Baku Higher Oil School win ‘Innovative Methods in Education Development II’ competition

Ariane 6 launch scheduled for the first half of July

Indiana Pacers lament Game 1 overtime loss to Boston Celtics

Kazakhstan suggests setting up int’l Aral Sea dried bottom afforestation center

Academician Nargiz Pashayeva: At times, historical errors were made, and some manuscripts were catalogued under incorrect addresses

Turkish MPs informed about "ASAN Xidmet" center

UNESCO: Our relationship with nature and with other living beings needs a radical rethink

ADA University hosts workshop on COP29

Azerbaijan’s Minister of Science and Education holds meetings during Education World Forum

Turkish delegation visits Alley of Honors, Alley of Martyrs and "Turkish Martyrdom" monument

Professor Edmund Herziq: Nizami Ganjavi unified catalogue will be published in three languages

International Booker Prize 2024: German win for Kairos

Leyla Aliyeva holds meetings at United Nation’s office in Switzerland

Azerbaijan`s Prime Minister to visit Iran

® Shahin Bagirov meets with Caspian Energy Club members

Oil prices fall in global markets

Azerbaijani oil price down in global markets

Release of the Press Service of the President

“International Policy Digest” publication highlights lasting peace opportunities in South Caucasus

Monkeys are dropping dead from trees in Mexico as a brutal heat wave is linked to "mass deaths"

2nd Azerbaijan-Uzbekistan Interregional Forum features signing of bilateral documents

Azerbaijani wrestler crowned European champion in Baku

“Nizami Ganjavi Manuscripts Union Catalogue and Database” project presented to scientific community