Qatar in competitive position in gas market: Al Attiyah

Date

4/23/2016 1:32:29 PM

(MENAFN- The Peninsula)

Doha: Chairman of Abdullah Bin Hamad Al Attiyah Foundation For Energy and Sustainable Development HE Abdullah bin Hamad Al Attiyah said that the State of Qatar is able to continue maintaining and developing gas projects under the current situation of energy prices pointing out that it is in a good competitive position and is trusted by its customers.

Al-Attiyah said at a panel session on "The Role of LNG in a Changing Energy World" hosted by Brookings Doha Center that Qatar supplies about 30 percent of Britain's natural gas and it will deliver its first shipment to Poland during the next year.

He pointed that gas is currently considered to be the best and cleanest source of energy referring to his conviction that being cheep gas will attract more consumers because of its cleanliness and efficiency.

Al Attiyah denied any concerns over declining gas prices. He pointed that Qatar's LNG transporting fleet is the biggest in the world.

On investments in new gas projects HE Al Attiyah said that the current low prices are encouraging due to the high cost which increases the risk of new projects.

Qatar produces one third of the world natural gas production said Al Attiyah adding that two billion people around the globe will be in need for gas in the few coming years.

On the current oil prices and the challenges posed them HE Al Attiyah said that this is not the first time for the oil prices to decline. Oil prices will rise again no doubt he added.

About the need for a gas organization like "OPEC" HE Al Attiyah pointed to the Qatar-based Forum Of Gas Exporting Countries. Noting the difference between oil and gas Al Attiyah said that it is difficult to cut gas production because of the long-term contracts and difficulty of storing LNG.

QNA

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