Qatar Petroleum is changing its name to Qatar Energy to signal a new strategy that focuses on energy efficiency and environmentally-friendly technology such as capturing and storing carbon dioxide, its chief executive has said.
“It’s more of a reflection of what we’re actually doing that wasn’t reflected by the name that we had,” CEO Saad Al-Kaabi said on Monday.
He said natural gas would remain part of the energy transition and would be needed for at least a few decades.
— QatarEnergy (@qatar_energy) October 11, 2021
Qatar is the world’s largest supplier of liquefied natural gas and aims to expand production to 127 million tonnes annually by 2027 from 77 million tonnes.
Al-Kaabi, who is also the Qatari minister of state for energy, said the state-owned firm wanted to be more efficient in its own energy use.