Qatar Supports Fair LNG Prices, Dr. Al Sada Says

Moscow , July 01 (QNA) - Qatar's Minister of Energy and Industry HE Dr. Mohammed bin Saleh Al Sada said Monday that the State of Qatar will continue in supporting the Gas Exporting Countries Forum (GECF) to demand a fair price of LNG, without affecting the consumers negatively. HE Al Sada was giving a speech at the Forum, which concluded today in Moscow. The final statement stressed the members' goal of achieving a fair price for LNG that reflects its value as a source for clean energy. HE the Minister, who headed the Qatari delegation to the Forum, said that the energy-related issues were of major interest to the international community due to its impact on the economy. HE Minister Al Sada said that there were a lot of changes in recent years, as countries shifted from being LNG consumers to producers and vice-versa. That change reflected on the regional and international energy market, His Excellency added. HE the Minister of Energy and Industry noted that LNG has been gaining more importance due to its environmental value. His Excellency said that decreasing CO2 emissions can be achieved when LNG is used as a source for transport, in addition to being a source for power generation. HE Minister of Energy and Industry said that the State of Qatar called on LNG producers to create new technologies that guarantee a safe and proactive development for the gas industry. Success in that, His Excellency added, will facilitate long-term investment in the LNG industry. Which would in turn help serve each country's development, His Excellency added. HE the Minister of Energy said that the State of Qatar has two-thirds of the international LNG reserves. The State of Qatar also produces 85% of the total LNG produced. His Excellency noted that such figures puts more responsibility on the Qatari government to guarantee a stable and safe production of LNG. This prompted the State of Qatar, HE the Minister added, to focus on developing the LNG resources in the best possible manner, particularly since the exploration of the Shamal gas field. HE the Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada headed on Saturday a delegation that included a number of Qatar Petroleum's senior officials to take part in the GECF extraordinary ministerial meeting. They agreed to hold the next Forum in Iran's capital, Tehran. The Forum's members are Russia, Qatar, Algeria, Libya, Egypt, UAE, Oman, Iran, Nigeria, Venezuela, Bolivia, Equatorial Guinea and Trinidad and Tobago. (END)