Qatar minister at WEF Riyadh slams critics for ‘demonizing’ oil and gas industry

Qatar’s energy minister hit out at oil and gas critics for “demonizing” the industry that continues to do “good for humanity,” during a panel discussion in Riyadh on Sunday.

“We shouldn’t be selfish and just talk about what we want in our house and forget the neighborhood,” the Qatari Minister of State for Energy Affairs Saad al-Kaabi said during the World Economic Forum special meeting.

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Qatar is one of the world’s top LNG exporters, which is planning an 85 percent expansion in LNG output from its North Field’s current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.

The Gulf country has been able to establish itself as a capable supplier for Europe following their decision to reduce dependence on Russian gas.

Al-Kaabi, acknowledging that “we’re all for having a good environment for us and for the next generation,” highlighted the upcoming need for energy sources given that the world’s population is expected to increase rapidly in the next few decades.

Additionally, al-Kaabi criticized some governments for preaching about the need to transition to cleaner forms of energy without taking action due to the steep costs.

“A lot of governments are talking about green initiatives, but they actually are not paying for it. And ultimately, you have consumers that would be paying for all these green initiatives,” the minister, who is also the CEO of QatarEnergy, said.

Residents in richer countries will also not be able to afford the switch, he said. “The demand for oil is going to be there for a very long time.”

He also highlighted the mitigation methods currently under development and in initial implementation stages across the Gulf Cooperation Council (GCC) countries, including carbon capture and storage (CCS) systems.

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