The Peninsula Highlights Qatar's Efforts to Diversify National Economy Away from Hydrocarbons

Doha, April 05 (QNA) - English-language newspaper The Peninsula affirmed in its editorial Tuesday that Qatar's energy sector is undeniably the country's economic backbone and with global decarbonization efforts and the significance of diversifying the economy, global energy producers are constantly on the lookout for technologies and policies that would encourage the sustainable transition to renewable energies. The Qatari daily newspaper said that the State of Qatar has echoed its commitment to diversifying the national economy away from hydrocarbons, facilitating the sustainable use of resources, and ensuring food security, energy, and water systems. With HE Minister of State for Energy Affairs Eng. Saad bin Sherida Al Kaabi and President and CEO of QatarEnergy at the helm, QatarEnergy launched a sustainability strategy recently updated. The plan outlines multiple initiatives to reduce Greenhouse Gases emissions, including flagship projects such as the further deployment of carbon capture and storage (CCS) technology to capture over 11 million tonnes per annum of CO2 in the State of Qatar by 2035, the paper added. The newspaper said that these projects will further reduce the carbon intensity of Qatar's LNG facilities by 35 percent, and its upstream facilities by at least 25 percent compared to previous targets of 25 percent and 15 percent, respectively. The Peninsula hailed Al Kaabi's efforts have not gone unnoticed as he was yesterday announced as the Energy Executive of the Year for 2022 by Energy Intelligence, one of the leading energy information companies. According to Energy Intelligence, Al Kaabi is widely recognized for his foresight in embarking on a major expansion of Qatari LNG, capitalizing on its low-cost, low-carbon advantages, the paper said. In conclusion, the newspaper said that Al Kaabi has overseen a wholesome transformation of QatarEnergy with a rebrand and strategic visions and goals to combat a sustainability-driven future. (QNA)