QATAR - Energy & Mining
Khalid Bin Khalifa Bin Jassim Al-Thani has been the CEO of Qatargas since 2010. He also serves as a member of the Board of Directors, Vice-Chairman, and CEO of the Laffan Refinery Company Limited. He holds an MBA from the Pacific Lutheran University in Washington.
The integration of Qatargas and RasGas resulted in the creation of a unique global energy operator in terms of size, service, and reliability. The integration pooled our resources and capabilities and produced an exceptional combination of efficiency and effectiveness, creating even more value for our stakeholders, namely the State of Qatar, shareholders, customers, employees, and other business partners. The new Qatargas is the largest LNG supplier in the world with a production capacity of 77 million tons per annum (MTPA) and a fleet of 70 vessels delivering to a wide range of customers across the world. The consolidation of Qatargas and RasGas as one company has enhanced the ability of the new company to offer more flexibility and to build upon the array of services. Indeed, the integration was not intended simply to reduce costs, but also to facilitate the optimization of the Qatari LNG portfolio at a global level.
Qatargas has 35 years of experience with proven records of producing and delivering LNG efficiently and reliably. The magnitude of our reserve and asset base cannot be surpassed. Furthermore, we benefit from having a scale of operation under the control of a single operator, Qatargas, with a majority owner, Qatar Petroleum, which allows rapid decision-making in response to changes in market conditions. Finally, we have retained a significant portion of flexible volumes within our supply portfolio, which enhances our responsiveness to short- and long-term demand.
Qatargas has supplied LNG to 31 countries, and our client list is expected to expand over the next five years. Asia Pacific will continue to drive LNG demand, with China and India to become significant LNG importers. Other emerging markets in Asia, the Middle East, and Africa will also support the development of demand for LNG. We also intend to supply emerging markets in Europe. We have been innovating in our relationship with selected commodity traders to enhance market access and diversify risk.
With more stringent environmental policies, natural gas being the cleanest fossil fuel has a strong future. Ultimately, in three to five years, the LNG market is expected to experience a shortage in supply. Qatar Petroleum has already anticipated this by approving the expansion of Qatargas’ existing production from 77MTPA to 110MTPA by 2023. This will maintain Qatar’s position as the major LNG producer in the world and continue Qatargas’ significant contribution to the country’s GDP.
As the world’s premier LNG company, we are committed to contributing to the achievement of the Qatar National Vision 2030 by setting targets that cover the economic, social, and environmental aspects of sustainability. Qatargas’ role in the global energy sector has become more important than ever, with cleaner energy sources becoming a fundamental component of greenhouse gas mitigation strategies globally.
Qatargas will continue to efficiently place its volumes in the short term where they can fetch the best value while also consolidating and growing our long-term sales. We plan to increase our footprint in Asia with the start-up of commercial deliveries to Bangladesh, a market that Qatargas opened recently in April 2018. LNG demand will continue to grow at a sustainable rate, and new markets, with which we maintain close contact, will start to import LNG before the end of the decade.
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