Latest news with #Al-AttiyahFoundation
Qatar Tribune
4 days ago
- Business
- Qatar Tribune
ICC Qatar launches Environment & Energy Commission to drive private sector leadership on sustainability
DOHA: The International Chamber of Commerce (ICC) Qatar, in collaboration with the Al-Attiyah Foundation, has launched the ICC Qatar Environment & Energy Commission – a landmark initiative aimed at galvanising the private sector's role in advancing Qatar's sustainable energy and climate goals. The Commission, unveiled during a high-level event in Doha on Wednesday, will serve as the country's premier platform for private-sector engagement on climate policy, environmental stewardship, and the energy transition. Aligned with global frameworks such as the Paris Agreement and the UN Sustainable Development Goals, the Commission's establishment marks a significant step in reinforcing commitment to sustainability and economic diversification under the Qatar National Vision 2030. The roadmap unveiled at the event outlines a phased implementation strategy, including the formation of dedicated working groups focused on low-carbon energy transition, sustainable water and desalination, and emissions mitigation through tools such as carbon markets and carbon capture. The Commission will also engage closely with national entities such as the Ministry of Environment and Climate Change, Kahramaa, and QatarEnergy, while fostering strategic alliances with international partners including the United Nations Framework Convention on Climate Change (UNFCCC), the World Business Council for Sustainable Development (WBCSD), and the UN Global Compact. Sheikha Tamader Al Thani, Secretary General, ICC Qatar highlighted: 'The establishment of the ICC Qatar Environment & Energy Commission represents a significant step in advancing our commitment to sustainability as a key driver of long-term economic resilience and private sector leadership. This Commission provides a dedicated platform for constructive dialogue, policy advocacy, and actionable collaboration between business, government, and global institutions.' She also pointed out: 'Through the commission work, we aim to align with the objectives of the Qatar National Vision 2030, while actively contributing to international frameworks and initiatives. Together with our partners at the Al-Attiyah Foundation, we are confident that this Commission will catalyze innovative solutions and position Qatar's private sector as a leader in the global energy transition.' Speaking at the launch, Colman Hands, Co-Chair of the Commission, emphasized the importance of private-sector leadership in addressing climate challenges. 'This Commission is designed to be a dynamic force, connecting policy, innovation, and investment in ways that can drive real change,' he stated.
Qatar Tribune
12-05-2025
- Business
- Qatar Tribune
LNG oversupply looms but Qatar poised to boost leadership
Tribune News Network Doha The world is on the cusp of a liquefied natural gas (LNG) oversupply that could reshape global energy markets for years to come, the Al-Attiyah Foundation reports in its latest Energy Research Paper, Navigating the LNG Oversupply: Market Dynamics and Future Challenges. Yet amid the turbulence, Qatar is uniquely positioned to strengthen its leadership, thanks to its low-cost production, strategic expansion plans, and growing list of long-term partnerships with key global markets. Between 2025 and 2029, at least 200 million tonnes per annum (Mtpa) of new LNG capacity (equal to half of today's global output) is expected to flood the market. LNG supply is projected to exceed demand by 63 million tonnes by 2030 if all under-construction projects proceed on schedule, Bloomberg's Global LNG Market Outlook 2030: Focus on Supply Risks states. However, project delays and sanctions, particularly against Russia, have already removed an estimated 21 million tonnes of supply by the end of the decade, softening the oversupply outlook. Despite a short-term tight market, LNG supply is forecast to outpace demand from 2027 onwards. Still, Qatar's advantages remain clear. Its North Field expansion projects, including the recently launched North Field West, will boost the nation's export capacity by 85% by 2030. QatarEnergy's low-cost production at around $6/MMBtu, which is significantly below new U.S. projects at $9–10/MMBtu, ensures the country can remain profitable even in a lower-price environment. Qatar's strength is reinforced by securing large, long-term supply agreements of up to 27 years with major buyers across Europe and Asia, including Italy, France, the Netherlands, and China. These contracts provide Qatar with market certainty at a time when European and Asian buyers face growing uncontracted demand. Europe's uncontracted LNG demand is expected to rise by 40% by 2030, while less than a third of Asia's expected demand increase is currently covered. Meanwhile, the United States LNG exports are expected to grow by 15% this year, reaching almost 14 billion cubic feet per day, according to the EIA Short-Term Energy Outlook, Dec 2024. However, U.S. flexibility comes with price sensitivity, and American projects face higher shipping distances and emerging regulatory hurdles. In contrast, Qatar's strategic investment in infrastructure, its reputation for reliability, and its access to both European and Asian buyers position it to thrive in the next energy cycle. As global LNG demand is projected to rise from 400 Mtpa today to over 600 Mtpa by 2030, Qatar's leadership will become even more critical. While LNG markets are entering a period of significant change, Qatar's proactive strategy, flexibility, and resilience place it firmly on course to consolidate its position as the world's most influential LNG exporter for decades to come.
