QatarEnergy / March 2023 / Energy Focus

QATARENERGY

Assets, Know-How and Experience to Drive the Transition

Natural Gas and Liquified Natural Gas are essential elements of the energy transition, with an instrumental role to play in moving toward net-zero emissions. As the world’s leader in LNG production, QatarEnergy is embarking upon a new direction to meet the challenges of the new business environment with greater dynamism, resilience, and efficiency.

PRODUCTION: Tommy Atkinson

INDUSTRY FOCUS: ENERGY

//One of the obvious truths of our times is that energy is pivotal to every single being and operation on earth and beyond, and has enjoyed an immeasurable and unrivalled impact on humankind over the past century and more. It has powered homes and industrial plants, accelerated production and innovation and helped billions of people move across the globe in the quest for progress.

As the transition now begins to evolve and accelerate apace, natural gas will remain vital in providing reliable and efficient energy to support economies in different parts of the world. “As stewards of Qatar’s natural resources and the world’s largest provider of LNG,” QatarEnergy sets out, “we invest our assets, know-how, and experience to support the communities where we operate. Our strength rests in our ready access to Qatar’s unique reserves to provide energy that fuels

social and economic prosperity.

“Being geographically positioned between the world’s largest markets, we are able to deliver to our customers – whenever or wherever they need us – using the world’s largest fleet of LNG ships. Our vision is to become one of the best energy companies in the world, with roots in Qatar and a strong international presence.”

DEVELOPMENTS AND DISCOVERIES

QatarEnergy’s sustainability strategy is driven by Qatar National Vision 2030 and the United Nation’s Sustainable Development Goals (SDGs). “These are essential references to frame our sustainability actions and set them in a global context,”

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Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, President and CEO of QatarEnergy

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INDUSTRY FOCUS: ENERGY

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the company adds. “Climate change is one of the most critical issues of our times and requires prompt and dedicated action at a global scale.

“As a crucial enabler of Qatar National Vision 2030, we advance, protect, and sustain human, social, economic, and environmental development to build a better tomorrow.” Over the last 25 years QatarEnergy has signed Exploration and Production Sharing Agreements

(EPSA) and Development and Production Sharing Agreements (DPSA) with a number of major international oil and gas companies, including Elf Aquitaine/Total, Maersk Oil Qatar, GDF Suez and ExxonMobil.

“These agreements have boosted Qatar’s oil and gas reserves through new discoveries and the development of existing fields,” the company effuses, with Idd El Shargi Dome North and South and Al Shaheen and Al Khaleej Fields just some of those findings resulting from the partnerships.

Two of the other most notable oil fields, located some 90km to the east of Doha in the territorial waters of the State of Qatar, are Al Karara and A-Structures, the subjects of a new agreement for their continued development and production signed between QatarEnergy and Japan’s Qatar Petroleum Development Company (QPD). Al Karara was discovered in 1988, with the A-Structures - A-North and A-South - preceding its unearthing in 1971.

Initially considered noncommercial, QPD succeeded in proving the commercial viability of the fields in the late 1990s. The fields then started production in March 2006, and have since produced a total of 33.5 million barrels of crude oil. QPD, owned by Cosmo E&P and Sojitz, will continue to act as the operator of the oil fields under the new agreement superseding that signed in December 1997.

“We are pleased to continue our partnership with Qatar Petroleum Development Company (Japan) and to work together to continue the development and production of the Al-Karkara and A-Structures fields,” commented Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy. “We look forward to the next five years of cooperation with QPD, whose successful efforts have unlocked the capabilities of these relatively small fields and added value to our partnership.”

A light oil discovery has also just been announced in the Jonker-1X deep-water exploration well drilled in the PEL-39 Exploration License, marking the third such discovery for QatarEnergy in Namibia. “We are pleased with this encouraging discovery, which is our third in Namibia,” Al-Kaabi summed up. “I would like to take this opportunity to congratulate our partners Shell and NAMCOR, and to congratulate and thank the Government of the Republic of Namibia, which has been very supportive of this exploration effort.”

LNG LANDMARKS

“Natural gas is an important part of the solution in the energy transition, especially as we strive to eliminate energy-poverty,” QatarEnergy recognises, and with energy demand set to swell further over the coming decades LNG supplies will be essential to meeting it. QatarEnergy is currently implementing its North Field East Project (NFE) to raise LNG production capacity even further from the current 77 million tons per year, to 110 million tons.

“NFE represents the first phase of Qatar’s planned LNG expansion,” the company clarifies. “The second phase of Qatar’s LNG expansion project, the North Field South Project (NFS), will further increase Qatar’s production

capacity from 110 million tons per year to 126 million tons per year.”

At the close of 2022 QatarEnergy unveiled two long-term sale and purchase agreements with ConocoPhillips affiliates for the delivery of up to two million tons per annum (MTPA) of LNG from Qatar to Germany, with deliveries expected to start in 2026. “These agreements are momentous for several reasons,” opined Minister Al-Kaabi. “They mark the first ever long-term LNG supply to Germany with a supply period that extends for at least 15 years, thus contributing to Germany’s long-term energy security.

“They also represent the culmination of efforts between two trusted partners, QatarEnergy and ConocoPhillips, over many years, to provide reliable and credible LNG supply solutions to customers across the globe, and today, to German end-consumers.

“This is a concrete demonstration of QatarEnergy’s resolve to provide reliable energy supplies to all major markets around the world, and of our commitment to the German people. Germany is the largest gas market in Europe, and we are committed to contribute to the energy security of Germany and Europe at large.”

It closely followed the first long-term LNG offtake agreement from the NFE Expansion project, a 27-year SPA with China Petroleum & Chemical Corporation (Sinopec) for the supply of four MTPA of LNG to the People’s Republic of China. “The signing of the long-term LNG SPA with QatarEnergy is a milestone and an important part of the integrated cooperation between the two sides on the NFE project,” concluded Dr MA Yongsheng, Sinopec Chairman. “Qatar is the world’s largest LNG supplier, and China is the world’s largest LNG importer. The two countries share inherent complementarities and a good foundation for energy cooperation.

“Sinopec has been always committed to the development of green and clean energy. Our integrated cooperation with QatarEnergy on the NFE project could not only meet the needs of the Chinese market, but also reflect Sinopec’s commitment to a low-carbon, green, safe, responsible and sustainable development path.”

// NATURAL GAS IS AN IMPORTANT PART OF THE SOLUTION IN THE ENERGY TRANSITION, ESPECIALLY AS WE STRIVE TO ELIMINATE ENERGY-POVERTY //

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