Qatar well-placed for stable LNG supply

March 25, 2014 - 9:08:08 am
RasGas Chief Executive Officer Hamad Rashid Al Mohannadi speaking at an executive leadership panel discussion on the inaugural day of Gastech in Seoul, South Korea. 

Doha/Seoul: Asia’s growing energy requirements calls for supply from a diverse portfolio of established liquefied natural gas (LNG) producers and developers with proven records of reliability and stability, said RasGas Company Ltd’s (RasGas) Chief Executive Officer Hamad Rashid Al Mohannadi at Gastech, currently being held in Seoul, South Korea. 

The Gastech conference and exhibition is held approximately once every 18 months. This is RasGas’ ninth consecutive participation in the industry event for which it is also a strategic sponsor. The Qatar delegation was led by HE Dr Mohammed Bin Saleh Al Sada, Minister of Energy and Industry.

Speaking on an executive leadership panel discussion entitled ‘Developing the Next Wave of Gas Supply to Asia-Pacific Markets’ on the inaugural day of the four-day event, Al Mohannadi highlighted the fact that Asian customers need to remain focused on projects with strong and economically viable resources which are serviced by reliable and experienced developers and operators. 

“Qatar’s stable political and economic environment provides context for the continued reliable supply of LNG from existing LNG production facilities with a compelling and proven track record that is undisputedly world class. I believe the country is ideally positioned to lead the global shift toward the increased use of gas and to meet the expanding requirements for LNG in Asia. And RasGas has the technical and commercial expertise to deliver a secure, safe and reliable supply of LNG today and for years to come,” said Al Mohannadi. 

Speaking on the growing uses of LNG, Al Mohannadi pointed out that it is not only sought for fuel in power generation and industrial uses, but has rapidly gained acceptance as a fuel for shipping and large-scale road haulage. He cited the shift towards LNG powered ships in Australia, South Korea and the European Union all of which are pushing ahead with pilot schemes, backed by policy makers. 

“Qatar recently launched a project to convert a Q-Max vessel to use LNG as an alternative to heavy fuel oil. This allows us to further reduce emissions and provide greater flexibility of marine fuel supply,” he added. 

The Peninsula

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