Qatar Petroleum changes name to Qatar Energy

CEO Saad Al-Kaabi says the name change signals a new strategy focusing on energy efficiency and environmentally-friendly technology.

Saad Al-Kaabi, CEO of Qatar Energy, says the company wants to make its own energy use more efficient [Naseem Zeitoon/Reuters]

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.

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.

Source: Reuters