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QNA
Doha
Secretary-General of the Gas Exporting Countries Forum (GECF) Dr Yury Sentyurin has said that Qatar has established itself as one of the largest producers and exporters of natural gas in the world after it proved its ability to overcoming challenges.
In an interview, the GECF Secretary-General said that Qatar, despite recent challenges, has continued to be resilient and was able to secure LNG supplies to its partners and clients worldwide through providing LNG to remote areas and markets, which don’t have access to sustainable and clean sources of energy.
He expects Qatar to continue to play a key role in natural gas markets globally and maintain its position as one of the largest natural gas producers and exporters in the world. Furthermore, he pointed out that Qatar has great potential to develop its natural gas resources and increase its LNG exports.
Dr Sentyurin also added that Qatar’s recent decision to increase its LNG production level from 77 mt to 110 mt will improve the country’s position as one of the main exporters of LNG to the global markets and reinforce its position as the world’s largest reliable LNG supplier.
He pointed out that Doha’s announcement can contribute to increasing demand for LNG, mostly from Asia and especially China. Qatar’s export level will also reinforce the position of the GECF as a whole in the global LNG trade.
Dr Sentyurin praised Qatar’s loyalty to its clients in the toughest moments, pointing out that its support of Japan after Fukushima disaster showed how loyal Qatar is to its clients.
He stated that Qatar recovered its status as the largest annual LNG exporter. It loaded around 6.9 mt of LNG with the support of many factors, including the large quantities produced in the North Field, storage capacity, low production costs, and other factors.
He urged the Forum continues to support and promote cooperation among its member states through dialogue between gas producers and consumers and through promoting the use of natural gas as an affordable, abundant and, sustainable energy source.
Dr Sentyurin pointed out that the global energy market is becoming more and more dynamic, with the interplay of economics and geopolitics getting more complex. This increased degree of complexity and dynamics brings a higher degree of unpredictability, which in turn raises the volatility of various commodities, including the oil price.
He added that the role of large-scale and institutional players is very important, pointing out that players like the GECF often aim at market balance and stability, as oil and gas projects are usually very capital intensive and have a long project life cycle; such long-term projects require predictability and low volatility to be executed and thrive. This is why todays situation is a great opportunity for the GECF to play a more hands-on role in the gas and LNG markets.
He pointed out that GECF is an intergovernmental organisation of gas exporting countries, which provides the framework for exchanging experience and information among its member countries, builds a mechanism for dialogue between gas producers and consumers for the stability of security of supply and demand in gas markets, promotes natural gas as a fuel of choice to achieve the United Nations Sustainable Development Goals (UN SDGs) and goals of the Paris Agreement, while respecting the sovereign rights of its Member Countries over the exploitation of their natural gas resources.
Dr Sentyurin stressed that at the GECF has no intention to collectively reduce gas/LNG production to balance the market during any potential oversupply based on its commitment to the sovereign rights of its member countries.
Doha
Secretary-General of the Gas Exporting Countries Forum (GECF) Dr Yury Sentyurin has said that Qatar has established itself as one of the largest producers and exporters of natural gas in the world after it proved its ability to overcoming challenges.
In an interview, the GECF Secretary-General said that Qatar, despite recent challenges, has continued to be resilient and was able to secure LNG supplies to its partners and clients worldwide through providing LNG to remote areas and markets, which don’t have access to sustainable and clean sources of energy.
He expects Qatar to continue to play a key role in natural gas markets globally and maintain its position as one of the largest natural gas producers and exporters in the world. Furthermore, he pointed out that Qatar has great potential to develop its natural gas resources and increase its LNG exports.
Dr Sentyurin also added that Qatar’s recent decision to increase its LNG production level from 77 mt to 110 mt will improve the country’s position as one of the main exporters of LNG to the global markets and reinforce its position as the world’s largest reliable LNG supplier.
He pointed out that Doha’s announcement can contribute to increasing demand for LNG, mostly from Asia and especially China. Qatar’s export level will also reinforce the position of the GECF as a whole in the global LNG trade.
Dr Sentyurin praised Qatar’s loyalty to its clients in the toughest moments, pointing out that its support of Japan after Fukushima disaster showed how loyal Qatar is to its clients.
He stated that Qatar recovered its status as the largest annual LNG exporter. It loaded around 6.9 mt of LNG with the support of many factors, including the large quantities produced in the North Field, storage capacity, low production costs, and other factors.
He urged the Forum continues to support and promote cooperation among its member states through dialogue between gas producers and consumers and through promoting the use of natural gas as an affordable, abundant and, sustainable energy source.
Dr Sentyurin pointed out that the global energy market is becoming more and more dynamic, with the interplay of economics and geopolitics getting more complex. This increased degree of complexity and dynamics brings a higher degree of unpredictability, which in turn raises the volatility of various commodities, including the oil price.
He added that the role of large-scale and institutional players is very important, pointing out that players like the GECF often aim at market balance and stability, as oil and gas projects are usually very capital intensive and have a long project life cycle; such long-term projects require predictability and low volatility to be executed and thrive. This is why todays situation is a great opportunity for the GECF to play a more hands-on role in the gas and LNG markets.
He pointed out that GECF is an intergovernmental organisation of gas exporting countries, which provides the framework for exchanging experience and information among its member countries, builds a mechanism for dialogue between gas producers and consumers for the stability of security of supply and demand in gas markets, promotes natural gas as a fuel of choice to achieve the United Nations Sustainable Development Goals (UN SDGs) and goals of the Paris Agreement, while respecting the sovereign rights of its Member Countries over the exploitation of their natural gas resources.
Dr Sentyurin stressed that at the GECF has no intention to collectively reduce gas/LNG production to balance the market during any potential oversupply based on its commitment to the sovereign rights of its member countries.
