Energy industry faces huge challenges: PM

 21 Jan 2014 - 4:58


The Prime Minister and Interior Minister H E Sheikh Abdulla bin Nasser bin Khalifa Al Thani (centre) with Minister of Energy and Industry H E Dr Mohamed bin Saleh Al Sada (right) and Saad Al Kaabi, Director of Oil and Gas Ventures at QP, during the inauguration of the IPTC 2014 exhibition at Qatar National Convention Centre yesterday. (Shaival Dalal)


DOHA: The 7th edition of Inter-national Petroleum Technology Conference (IPTC) began here yesterday with the energy leaders emphasising on the need for ‘significant investments’ in technology and innovation to address the mufti-faceted challenges faced by global energy industry.
Opening the conference, Prime Minister and Interior Minister   H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani  said the oil and gas industry face multiple challenges, in terms of production cost, meeting   future demands, sustainable development and on the issue of emission cuts. 
Qatar is committed to invest in technology and innovation. The fact that Qatar launched the IPTC and the country’s decision to continuously host the high-profile conference confirm its commitment to explore the possibilities of cutting-edge technology and innovations to address the challenges faced by global energy industry.
Over the past two decades, he said, Qatar has made great strides in developing its hydrocarbon sector, making it the largest producer and exporter of liquefied natural gas (LNG). The country has emerged as the world’s capital of gas to liquids (GTL) and occupies third place in the world in terms of gas reserves. 
“We realise that the wealth is coming to us with responsibilities; and understand we have to make optimum utilisation of our resources and conserve it for our future generations”, Sheikh Abdullah said. 
Addressing the opening session, the Minister of Energy and Industry and Chairman of QP,  H E Dr Mohamed bin Saleh Al Sada, called on the participants to give importance to achieving two main goals: “Providing eco-friendly, high quality, and low cost products and technologies and achieving the best added values to quality, innovation and sustainable development.”
Dr Al Sada said: “Experiences have proven that scientific innovations and breakthroughs are the means to overcome the challenges facing not just the oil industry, but also the various other industries around us. Therefore, this conference constitutes the ideal platform to seek solutions to providing the energy the world needs — specifically those related to the environment and safety — in order to maintain the required levels of living, health, and welfare.”
The Minister expressed Qatar’s pride in hosting this important event for the third time, which he said enhances its position an economic, commercial and industrial center, and emphasizes its growing role as an energy leader.”
Dr Al Sada said: “Qatar’s success in the development and the optimum utilisation of its natural resources was achieved by a long-term strategy, which included the development of an advanced infrastructure, building a diverse and robust economy, a stable investment climate, the expansion of the county’s industrial base, achieving a higher added value, and the adoption of the best and latest technology solutions. This strategy is part of the Qatar National Vision 2030, the roadmap that was launched and guided by His Highness Sheikh Tamim bin Hamad Al Thani, the Emir of the State of Qatar.”
Held with the theme “Unlocking Energy through Innovation, Technology and Capability,” the 7th IPTC is the third edition to be held in Qatar, following its inaugural launch in Doha in 2005 and its fourth edition in 2009. 
This year’s event, which will be held until January 22, brings together over 6,000 industry professionals representing major oil & gas companies from all over the world. The conference features plenary and panel sessions as well as a technical programme that covers a comprehensive range of topics, from exploration and drilling, field development and production operations to reservoir management, geoscience, gas processing and new technologies.
The Peninsula