Al-Kaabi, who is also the President and CEO of QatarEnergy, was delivering the keynote speech at the Sinopec Forum in Shanghai Sunday.
The minister hailed the growing relationship between Qatar and China in the field of energy, highlighting the significance of the recently signed North Field expansion project partnerships and LNG sales agreements.
Al-Kaabi underscored the strong fundamentals of energy demand growth in Asia, mainly powered by China’s economic growth and said, “The State of Qatar has firmly supported the role of natural gas as a central component of any energy mix on the road to a realistic energy transition. We are providing the world with the cleanest hydrocarbon source of energy, which enjoys both economic and environmental qualities to support sustainable growth and a better future.
“In fact, by 2029, about 40% of all new LNG supplies will be provided by Qatar. Therefore, we believe that a stronger relationship between the world’s largest LNG producer and the world’s largest energy consumer is a natural development of the realities shaping the energy map today.”
Al-Kaabi placed great emphasis on QatarEnergy’s commitment to protecting our planet and our existence.
He said: “We believe that energy transition is one of the most pressing challenges of our time. It is not just about the environment, but also about the future of energy that touches the lives of every individual on this planet, and transcends borders, economies, and cultures.
“It is about a reasonable and realistic shift to cleaner alternatives to power our economies, while at the same time balancing energy security, affordability, and sustainability.”
“The transition to a cleaner, more sustainable energy future cannot be achieved in isolation. It requires open co-operation among nations, industries, and stakeholders towards a common goal,” His Excellency added.
The Sinopec Forum, which was held on the sidelines of the China International Import Expo, was organised and hosted by China Petrochemical Corporation (Sinopec) with the participation of Dr Ma Yongsheng, Chairman of Sinopec Group and Chairman of Sinopec Corp, and the attendance of senior Chinese and international energy executives.