National Day/ Minister of State for Energy Affairs: National Day's Celebration Reflects Unity, Cohesion in Face of Challenges
- 4 years ago
HE Minister of State for Energy Affairs, President and CEO of Qatar Petroleum (QP) Eng. Saad bin Sherida Al Kaabi affirmed that the National Day unites Qataris and all those who love Qatar in expressing loyalty to the beloved homeland, and in renewing allegiance to the wise leadership of HH the Amir Sheikh Tamim bin Hamad Al-Thani, who is leading the country to more pride and development built on the foundations laid by the late founder Sheikh Jassim bin Mohammed bin Thani towards more glory, greatness and dignity.
In remarks to Qatar News Agency (QNA), HE the Minister of State for Energy Affairs said that the National Day is an occasion of glory and pride in the State of Qatar, which reinforces our belonging to this beloved country, our connection to this great land, and our loyalty to the wise leadership, and a day that reminds us of our long history and in which we live a bright present and aspires to a bright future for us and for the generations to come.
His Excellency added such feelings are reflected every day in the manifestations of solidarity, unity and cohesion that unite all spectrums of the Qatari society and its members in the face of all the challenges facing them, whether during the unjust blockade or in the face of the global pandemic, or others.
HE noted that just as the founder united the people of the country and strengthened their cohesion and harmony, the wise leadership deepened our connection to our great land and created a generation with strong sense of belonging to this nation, a generation that will do everything possible to protect our present and work tirelessly to build our future.
On QP's achievements this year, HE Minister of State for Energy Affairs said that during the past three years, QP has strengthened its strategy and institutional values designed to support the path of this pioneering institution on the road to achieving its vision to become one of the best national oil and gas companies in the world by strengthening the position of the State of Qatar on the global energy map and expanding its international presence in the field of exploration.
Regarding QP's growing global presence in exploration, His Excellency said QP received the "New Venturer of the Year Award" as part of the Wood Mackenzie Exploration Awards 2020, in recognition of its outstanding and growing international exploration presence around the globe. QP is the first National Oil Company to win such award after it was won by Total in 2019 and ExxonMobil in 2018, he said, noting that the company signed a number of long-term agreements to buy and sell LNG with a number of brotherly and friendly countries.
He pointed out that QP signed agreements with three Korean companies to reserve LNG ship construction capacity in South Korea to meet ongoing expansion projects in the LNG production. By signing these agreements, QP secured approximately 60% of the global LNG shipbuilding capacity through 2027 to cater for its future LNG carrier fleet requirements.
In last November, QP announced the establishment and the start of operations of QP Trading LLC (QP Trading), as its dedicated LNG trading arm. Wholly owned by QP and based in Doha, QP Trading is mandated to build a globally diversified portfolio of third party and equity LNG. In addition, QP Trading will manage the price risk exposure of its portfolio through physical and derivatives trading.
To enhance its national human resources, His Excellency affirmed that QP has spared no effort in providing education, training and development opportunities for the widest possible segment of the promising young men and women of the country.
On QP's efforts to address the Coronavirus pandemic, HE Al Kaabi affirmed that QP has worked on the immediate response to manage the outbreak of the virus and limit its effects on QP and the rest of the energy sector. A crisis management team and a number of work groups and project teams have been formed to lead response efforts and implement key measures to protect employees while minimizing risks to the continuity of operations. QP also followed proactive tracking procedures with deliberate steps to raise or reduce the escalation as required.
His Excellency affirmed that the directives of HH the Amir Sheikh Tamim bin Hamad Al-Thani illuminate the path for them and gives them hope for a future that makes Qatar stronger and proud than ever before. All corners of the country are witness to the great economic, urban, cultural and social growth that earned it a high international recognition.
HE Minister of State for Energy Affairs, President and CEO of Qatar Petroleum stressed that just as His Highness's directives served to overcome crises, his daily follow-up to the various aspects of life in the country and his wise leadership to government helped to ensure the continuation of all that guarantees the elements of pride, dignity and well-being and the factors of success, development and progress. (QNA)
Source: QNA
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