Doha: Qatar Petroleum launched its new Sustainability Strategy, which sets a roadmap for a sustainable and more prosperous future for Qatar and the world.
The new Strategy establishes a number of targets in alignment with the goals of the Paris Agreement, and sets in motion a plan to reduce greenhouse gas emissions by 2030. It stipulates deploying dedicated Carbon Capture and Storage (CCS) facilities to capture more than 7 million tons per annum of CO2 in Qatar.
The Strategy also acts as a clear direction towards reducing the emissions intensity of Qatar’s LNG facilities by 25% and of its upstream facilities by at least 15%, and reducing flare intensity across upstream facilities by more than 75%. Furthermore, it sets out a target to eliminate routine flaring by 2030, and limit fugitive methane emissions along the gas value chain by setting a methane intensity target of 0.2% across all facilities by 2025.
Commenting on this occasion, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum, H E Saad Sherida Al-Kaabi said, “Qatar Petroleum’s Sustainability Strategy is a bold commitment with clear goals and milestones that ensure we embed sustainability considerations into the way we plan and manage our entire business and operations.”
The Minister added, “This Strategy is an important step on the road to achieve our vision of becoming one of the best National Oil and Gas Companies in the world, with roots in Qatar and a strong international presence. It will shape our actions and the way we operate over the next decade.”
“Qatar is the world’s largest LNG producer and, by implementing our Sustainability Strategy, we will play a decisive role in helping reduce the impact of climate change by implementing measures to curb emissions, produce LNG using the latest proven carbon reduction technologies, and compensating for residual emissions where necessary,” he concluded.
The Strategy is underpinned by Qatar National Vision 2030 and the United Nations’ Sustainable Development Goals and bridges the effort to reduce planet-warming emissions while ensuring clean and affordable energy supplies. It stipulates adding more than 4GW of electric power from carbon-free renewable energy to its portfolio in Qatar that would eliminate more than 5 million tons of CO2 emissions per year.
Anchored on three main pillars: Climate Change Mitigation, Operational Responsibility, and Social and Economic Development, Qatar Petroleum’s Sustainability Strategy is designed to meet the economic, environmental and social challenges in an increasingly competitive and complex energy landscape.