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673506
Tue, 12/19/2023 - 00:28
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Qatar National Day/ Minister of State for Energy Affairs to QNA: QND is Exceptional Opportunity to Celebrate Nation's Achievements
Doha, December 18 (QNA) - HE Minister of State for Energy Affairs, the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi affirmed that the National Day of the State of Qatar carries a deep symbolism represented in the cohesion between the various groups and their leadership in an embodiment of unity and pride in our ancient history and our promising vision for the future. He added that this cherished occasion represents an exceptional opportunity to celebrate the nation's achievements and to express loyalty and gratitude to our wise leadership. He said that it is an important occasion that embodies the strong will of the Qatari people to face challenges and build the future, through a safe and stable society governed by the principles of justice, equality and the rule of law. It also represents an advanced country capable of achieving sustainable development and ensuring the continuation of good living standard for its people, generation after generation, as drawn up by the Qatar National Vision 2030, which was launched by HH the Amir Sheikh Tamim bin Hamad Al-Thani, he added. His Excellency said that while this vision works to instill the spirit of belonging and citizenship, National Day comes as a national melting pot in which the spirit of pride and sacrifice that every Qatari man and woman shares merges with the sense of belonging to the land of our forefathers that was strengthened by the late Founder Sheikh Jassim bin Mohammed bin Thani, who united the people of the country and worked to deepen their connection to the land and their cohesion and unity. He added that as we cherish this precious occasion, we renew our pledge and loyalty to Qatar for a better future and more glory and exaltation under the wise leadership of HH the Amir. His Excellency pointed out that the people remain the focus and the center of efforts throughout the history of the State of Qatar. Starting with the efforts of the late Founder Sheikh Jassim bin Mohammed Al Thani to unite the tribes and give the people of Qatar a sense of pride and the ability to defend themselves and their land, and passing through all the Rulers of the country who succeeded each other over 145 years of economic, social and political growth, the Qatari citizens remained the most important factor in planning and work. He said that in continuation of this great legacy, HH the Amir Sheikh Tamim bin Hamad Al-Thani has worked, since the first day of assuming the reins of power from HH the Father Amir Sheikh Hamad bin Khalifa Al Thani, to enhance the achievements of the State and the gains of the Qatari citizen, in continuation of the journey he began when he was the Heir Apparent, when he laid the foundations for promoting development and launched a road map aimed at transforming Qatar by 2030 into an advanced country capable of achieving sustainable development and ensuring the continuation of decent living for its people. His Highness provided a general framework for developing comprehensive national strategies and plans, stressing through the vision on balancing between achievements that lead to economic growth and the country's human and natural resources. HE pointed out that His Highness had affirmed in his first speech to the Qatari people, at the beginning of reign, that Qatar’s interest in its people, society, economy, politics and cultural identity were at the top of his priorities, stressing Qatar’s Gulf identity and its belonging to its Arab surroundings, the Islamic world, humanity and the international community. Therefore, His Highness’s directives, his daily follow-up of various issues and developments, and his wise directives worked to combine efforts to achieve everything that guarantees the elements of pride, dignity, and well-being, and the factors of success, development, and progress. His Excellency highlighted the continuation of the renaissance under the leadership of His Highness, which included various aspects of economic, social, cultural and athletic life and made Qatar a model to be emulated. Qatari achievements had to be embellished by hosting the most important event on the global sporting calendar, the FIFA World Cup Qatar 2022, which all analysts and observers considered the most successful and distinguished tournament compared to its predecessors.
On the other hand, HE Minister of State for Energy Affairs, the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi stressed that QatarEnergy would continue to lead the constant growth of the oil and gas industry in the State of Qatar and strengthen its position as the largest provider of liquefied natural gas (LNG) in the world. QatarEnergy has also expanded its operations to various countries of the world through contracts for participation in prospecting and exploration rights, in addition to implementing global projects in the petrochemical sector. QatarEnergy also strengthened its competitive position with strategic measures aimed at reducing costs, maximizing revenues, improving business procedures, ensuring the safety, reliability, and efficiency of operations, and achieving cost savings through the adoption of effective practices. His Excellency said that 2023 represents a significant milestone in the North Field expansion efforts aimed at raising the State of Qatar's production capacity of LNG from the current 77 million tons annually to 126 million tons as HH the Amir Sheikh Tamim bin Hamad Al-Thani laid the foundation stone for the expansion project in Ras Laffan Industrial City in October. The project includes six giant production lines, each with a production capacity of eight million tons per year of LNG, four of which are in the North East Field (NFE) expansion project and two in the North Field South (NFS) expansion project. His Excellency said that this major expansion would add 48 million tons annually to global LNG supplies, the largest single project in the history of the LNG industry. In addition to natural gas, the project would produce 6,500 tons per day of ethane gas, which would be used as a raw material in local petrochemical industries. The project would also produce approximately 200,000 barrels per day of liquefied petroleum gas (propane and butane), and about 450,000 barrels per day of condensates, in addition to large quantities of helium and pure sulfur gas. During the past year, QatarEnergy signed long-term sale and purchase agreements with a number of its partners in the NFE project to supply LNG to its customers worldwide. Regarding the petrochemical sector, His Excellency pointed out that QatarEnergy and its partner Chevron Phillips Chemical were able to obtain financing worth USD 4.4 billion for the Ras Laffan Petrochemical Project, which is an integrated complex to produce olefins and polyethylene in Ras Laffan Industrial City. The senior debt financing package consists of commercial and Islamic facilities and facilities from export credit agencies. Earlier in 2023, QatarEnergy announced the final investment decision in the project, which is the largest of its kind in the Middle East and one of the largest projects in the world. In March 2023, QatarEnergy and its partner Chevron Phillips Chemicals celebrated laying the foundation stone for the Golden Triangle Polymers Project in Orange, Texas, QatarEnergy's second-largest investment in the United States after the Golden Pass LNG project. HE the Minister of State for Energy Affairs pointed out that QatarEnergy has expanded its international presence in the prospecting and exploration sector in a number of countries such as Lebanon, Egypt, Mauritania, Namibia, Brazil, Canada, and Suriname. QatarEnergy has agreed to hold a 25 percent share in the Gas Growth Integrated Project (GGIP) - a project aimed at developing the natural gas resources of the Republic of Iraq. It also signed various long-term sale and purchase agreements for the supply of LNG, condensates, naphtha, and other products. His Excellency said that QatarEnergy would continue to implement its historic program to build a fleet of LNG carriers, as QatarEnergy celebrated last June the start of construction work on the first new generation ships chartered to transport LNG, which would be built in a shipyard in the Republic of Korea. In September 2023, QatarEnergy also signed an agreement to build 17 modern LNG carriers that would be manufactured in Korea in a deal that represents the beginning of the second phase of the program to build a marine fleet of LNG carriers, which would support the increase in production of LNG from the North Field and Golden Pass expansion projects, in addition to the requirements for modernizing Qatar's energy fleet in the long term. In addition to the 60 carriers contracted by QatarEnergy in the first phase of the program, which would be built in the Korean and Chinese basins, this agreement would raise the total number of new LNG ships that would be delivered to QatarEnergy and its subsidiaries to 77 carriers, with more carriers in the future. His Excellency indicated that QatarEnergy had successfully completed the integration of marketing and marketing-related activities formerly managed by QatarEnergy LNG, which constitutes a strategic turning point in its growth journey and confirms the company's commitment to excellence and enhancing the global reputation of the State of Qatar among its customers of LNG consumers and to creating a unified interface for customers around the world. This decision was reinforced by changing the name of Qatargas to become "QatarEnergy LNG," which constitutes a reflection of a new future vision for the LNG industry in the State of Qatar. This transformation came as part of the growing international recognition of Qatar's role in meeting the world's growing energy needs, especially natural gas, the cleanest type of fossil fuel. It also reflects Qatar Energy's continued commitment to LNG as a vital energy source for decades to come and a strong supporter of the transition to low-carbon energy. (QNA)
