Al Sada Underlines Importance of Technology in Global Energy Market

Doha, December 07 (QNA) - HE Qatar's Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada underlined the great importance of technology and cooperation among the bodies concerned with the future of sustainable energy in the global energy market. Addressing the opening session of the 9th International Petroleum Technology Conference (IPTC), HE the Minister of Energy and Industry said that the market is changing, and this change is expected to have far-reaching implications, for example, it led to a growing interest in the search for alternative and renewable sources of energy. Therefore, consuming nations will seek to secure supplies of energy through contracts and partnership agreements in new production projects. HE Al Sada said that the conference, which is being held in Doha for the fourth time, is held this year under the slogan "Technology and Partnerships for a Sustainable Energy Future" in line with the Qatar National Vision 2030, which clearly supports the protection of environment and progress through the sustainable development of the country's natural resources. HE the Minister underlined that the current decline in oil prices should be the beginning and a motivation for reducing both capital and operating cost, and that requires more understanding and partnerships in the field of technology, taking into account the technical, commercial and environmental challenges that are related to the exploitation of energy sources. That demonstrates the important role of the International Petroleum Technology Conference in presenting the issues of technology and trade cooperation, HE Al Sada added, pointing to Qatar's partnerships with international oil companies, technology developers and consumers and other players in the energy sector. HE the Minister highlighted the important role of natural gas, as a source for clean energy, in the investment to reach sustainable energy sources in the future. HE the Minister of Energy and Industry Dr. Mohammed bin Saleh Al Sada said that the conference will discuss the issue of climate change as a complicated global challenge that requires constructive and effective dialogue among all parties concerned with energy affairs. HE Al Sada shed light on Qatar's commitment to preserving the environment as one of the main elements in the state's National Vision, referring to a number of initiatives undertaken by the State in this regard. Meanwhile, HE the Minister of Energy and Industry said in statements while touring the accompanying exhibition that the conference focuses on technology, but it will also cover key energy issues, such as climate change and the role of technology in reducing capital and operating costs of major projects around the world, and this is important especially in the light of falling oil prices. He underlined that all oil companies in the world need technology to reduce the cost, but they need at the same time to a fair price in order to continue investment and efficiency. (QNA)