Latest news with #SaadAlKaabi
Trade Arabia
21-05-2025
- Business
- Trade Arabia
QatarEnergy CEO urges energy investment for fair oil prices
Saad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, called for continued investments in energy projects, stressing that a fair oil price will ensure sustained production and to ensure additional reserves. He made the remarks at the Qatar Economic Forum 2025, during a panel discussion on 'Global Energy Supplies & Security' with the participation of Ryan Lance, the Chairman and Chief Executive Officer of ConocoPhillips. Minister Al-Kaabi added: 'We need somewhere in the range of 70 to 80 dollars, in my view, to be able to sustain the current production and increase. If you don't have additional investment to sustain that needed energy, it is going to be damaging and will cause shortages in supply.' He asserted the need for more energy to help growth across the world saying: 'We are going to have 1.5 to 2 billion people on this earth in the next 20 to 30 years. And we have one billion people around the world today that don't have basic electricity. So, the need for electricity and power is huge. We are not worried at all about having a supply glut.' Speaking on gas exploration investments, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: 'We are one of the world's largest companies in terms of having rights to exploration blocks around the world. We have been successful in some regions, but this is a continuous drive to explore more, and we're really participating in new exploration blocks around the world. I'm optimistic about the future, but it takes time.' In his remarks on the outcome of the recent visit by President Donald Trump to Qatar, He highlighted a number of Qatari-US energy partnerships including the Golden Pass LNG export project and the Golden Triangle Petrochemicals plant with the world's largest ethane cracker. He added: 'We had several deals signed during the visit. From my vantage point as chairman of Qatar Airways, we had a tender to expand our fleet, and Boeing gave us the best deal and was better than airbus. We went ahead with that deal because it was the most commercially viable.' Answering a question on whether Qatar was pressured to sign those deals, He said: 'President Trump is a businessman first and foremost and he understands business very well. We've had American companies here for the last 70 years. So, regarding pressuring us to do deals, I would say no. There was no pressure, and we're happy to do deals where they are mutually beneficial.' Minister Al-Kaabi recognised the tremendous growth of QatarEnergy Trading and its future growth. He said: 'Trading was something we started just a few years back. We are now trading around 10 million tons of LNG in physical trading. We will be producing 160 million tons of LNG, if you include the US, and we have 70 LNG ships in our fleet today and we will be adding 128 ships in a few years. So, all that will help our trading to thrive.' Discussing relations with Asia, and particularly China and India, Minister Al-Kaabi said: 'We have a great relationship with China. We are the largest supplier to China, and they are Our biggest buyer. They are discussing with us additional volumes, and so is India, as well many other countries.' Responding to a question of the 'incredible profits' achieved by Qatar Airways, Minister Al-Kaabi, the Chairman of Qatar Airways, said: 'We owe this excellent profit to the company's outstanding leadership and staff .. all the pilots, crew members, and ground staff. Everybody working in the company has contributed. And, of course, first and foremost, are our loyal clients who made this also possible. We will need to keep going with the same rhythm to ensure that we can continuously have good profits.' On the introduction of Riyadh Airlines to the region's aviation sector. Minister Al-Kaabi said: 'We are very happy for our brothers and colleagues in Saudi Arabia that they are embarking on this expansion in the airline business. Saudi Arabia is a big country with a large population. And, if there's anything we can do in Qatar Airways to support Saudi Arabia we'd be happy to do that. We wish them all the success.'
Bloomberg
21-05-2025
- Business
- Bloomberg
Qatar's Big LNG Bet Comes Up Against US Ambitions
Welcome to our guide to the commodities markets powering the global economy. Today, Middle East Energy Team Leader Rakteem Katakey looks at the future of the gas market as Qatar commits billions of dollars toward new production and exports. During the opening day of the Qatar Economic Forum, Energy Minister Saad Al-Kaabi delivered a strong message: Natural gas is here to stay, and there's no dearth of buyers willing to lock in deals for years to come.
Asharq Al-Awsat
21-05-2025
- Business
- Asharq Al-Awsat
QEF Explores Gulf States' Impact in Coming Decade
Qatar's Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, has said US President Donald Trump's recent visit to the Gulf represents a strategic opportunity for the region. He stressed on Tuesday that the relationship between Doha and Washington remains both 'fundamental and strong.' 'The gift of a plane to President Trump reflects the depth of our bilateral ties,' he added. His comments were made during the opening session of the fourth edition of the Qatar Economic Forum, held in collaboration with Bloomberg. The high-profile event, which runs from May 20 to 22, brought together world leaders, business executives, academics, and entrepreneurs for wide-ranging discussions on the global economy. This year's forum is held under the theme 'A Road to 2030: The Global Economic Transformation,' focusing on major shifts in the global economic landscape and the Gulf region's role in shaping the decade ahead. Addressing energy market dynamics, Qatari Minister of Energy Saad Al-Kaabi cautioned that oil prices falling below $60 per barrel could significantly reduce investment and strain electricity supply. He noted that the LNG sector's planned expansion requires prices to hover between $70 and $80 per barrel to remain viable. Oil is currently trading at around $65 per barrel, recovering from recent lows triggered by US-imposed tariffs on several countries. Temporary suspension of those tariffs and emerging hopes for a resolution to the Russia-Ukraine war have helped stabilize prices, Al-Kaabi said. He acknowledged that the uncertainty stemming from those tariffs had caused notable concern in the energy sector. On the issue of global gas supply, Al-Kaabi dismissed fears of oversupply, asserting that Qatar, one of the world's leading LNG exporters, remains unconcerned. 'Chinese and Indian buyers are in ongoing discussions to secure additional volumes from Qatar,' he said. Al-Kaabi also announced that LNG exports from the North Field East project are expected to begin by mid-2026. Addressing potential competition with US gas exports, he remarked that American LNG, now the world's largest, would primarily target Europe and South America, posing little challenge to Qatar's dominance in Asia. Meanwhile, Qatar Central Bank Governor Sheikh Bandar bin Mohammed Al Thani said that the direct impact of US tariffs on Qatar is 'minimal,' noting that less than 2 percent of Qatari exports are bound for the US. However, he cautioned that declining global energy prices could weigh on the country's financial budget and current account balance. In a related development, Qatar Investment Authority (QIA) CEO Mohammed Al-Sowaidi revealed plans to at least double the fund's annual US investments over the next decade. This builds on QIA's earlier pledge to invest $500 billion into the US economy over the same period. Al-Sowaidi also confirmed that QIA had recently redeployed investments into Elon Musk's company, in 2025. He stressed the importance of bolstering US manufacturing capacity and highlighted the shifting trade dynamics between China and the US as an opening for strategic investment in American supply chains. The forum follows Trump's recent visit to Doha, part of a broader Gulf tour, during which the US and Qatar signed joint agreements. According to the White House, the deals are expected to generate an economic exchange worth at least $1.2 trillion. Qatar's Finance Minister Ali bin Ahmed Al-Kuwari also took the stage, announcing Doha's keen interest in investment opportunities in Syria. His remarks came after the US, with Saudi support, lifted all economic sanctions on Syria, a move soon mirrored by the European Union. Al-Kuwari reaffirmed Qatar's long-term confidence in Egypt as well, calling it a 'promising investment destination.' Last month, during Egyptian President Abdel Fattah El-Sisi's visit to Doha, Qatar committed to injecting more than $7 billion into the Egyptian market.
Zawya
21-05-2025
- Business
- Zawya
Qatar underlines importance of investing in energy projects
DOHA -- Qatari Minister of State for Energy Affairs Saad Al-Kaabi, reaffirmed on Tuesday the importance of continuing investment in energy projects, stressing that a fair oil price is essential to ensure the sustainability of production. Al-Kaabi made this statement during his participation in a panel discussion at the Qatar Economic Forum titled "Global Energy Security and Supply Assurance", with CEO of Conoco Phillips Ryan Lance. He emphasized the growing global need for energy to support economic growth, as the world's population will increase by between 1.5 to 2 billion people over the next 20 to 30 years. Furthermore, Al-Kaabi discussed the outcomes of former US President Donald Trump's recent visit to Qatar. He highlighted those Qatari American partnerships in the energy sector, including the Golden Pass LNG export project and the Golden Triangle petrochemical plant, which houses the world's largest ethane cracker unit. For his part, Lance explained that the tariffs imposed by Trump, markets may experience a rise in prices due to these tariffs, and the US has already begun to witness a decline in prices. He added that every commercial system or trade plan requires time to realize its intended economic vision. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
QatarEnergy CEO urges energy investment for fair oil prices
Saad Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, called for continued investments in energy projects, stressing that a fair oil price will ensure sustained production and to ensure additional reserves. He made the remarks at the Qatar Economic Forum 2025, during a panel discussion on 'Global Energy Supplies & Security' with the participation of Ryan Lance, the Chairman and Chief Executive Officer of ConocoPhillips. Minister Al-Kaabi added: 'We need somewhere in the range of 70 to 80 dollars, in my view, to be able to sustain the current production and increase. If you don't have additional investment to sustain that needed energy, it is going to be damaging and will cause shortages in supply.' He asserted the need for more energy to help growth across the world saying: 'We are going to have 1.5 to 2 billion people on this earth in the next 20 to 30 years. And we have one billion people around the world today that don't have basic electricity. So, the need for electricity and power is huge. We are not worried at all about having a supply glut.' Speaking on gas exploration investments, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: 'We are one of the world's largest companies in terms of having rights to exploration blocks around the world. We have been successful in some regions, but this is a continuous drive to explore more, and we're really participating in new exploration blocks around the world. I'm optimistic about the future, but it takes time.' In his remarks on the outcome of the recent visit by President Donald Trump to Qatar, He highlighted a number of Qatari-US energy partnerships including the Golden Pass LNG export project and the Golden Triangle Petrochemicals plant with the world's largest ethane cracker. He added: 'We had several deals signed during the visit. From my vantage point as chairman of Qatar Airways, we had a tender to expand our fleet, and Boeing gave us the best deal and was better than airbus. We went ahead with that deal because it was the most commercially viable.' Answering a question on whether Qatar was pressured to sign those deals, He said: 'President Trump is a businessman first and foremost and he understands business very well. We've had American companies here for the last 70 years. So, regarding pressuring us to do deals, I would say no. There was no pressure, and we're happy to do deals where they are mutually beneficial.' Minister Al-Kaabi recognised the tremendous growth of QatarEnergy Trading and its future growth. He said: 'Trading was something we started just a few years back. We are now trading around 10 million tons of LNG in physical trading. We will be producing 160 million tons of LNG, if you include the US, and we have 70 LNG ships in our fleet today and we will be adding 128 ships in a few years. So, all that will help our trading to thrive.' Discussing relations with Asia, and particularly China and India, Minister Al-Kaabi said: 'We have a great relationship with China. We are the largest supplier to China, and they are Our biggest buyer. They are discussing with us additional volumes, and so is India, as well many other countries.' Responding to a question of the 'incredible profits' achieved by Qatar Airways, Minister Al-Kaabi, the Chairman of Qatar Airways, said: 'We owe this excellent profit to the company's outstanding leadership and staff .. all the pilots, crew members, and ground staff. Everybody working in the company has contributed. And, of course, first and foremost, are our loyal clients who made this also possible. We will need to keep going with the same rhythm to ensure that we can continuously have good profits.' On the introduction of Riyadh Airlines to the region's aviation sector. Minister Al-Kaabi said: 'We are very happy for our brothers and colleagues in Saudi Arabia that they are embarking on this expansion in the airline business. Saudi Arabia is a big country with a large population. And, if there's anything we can do in Qatar Airways to support Saudi Arabia we'd be happy to do that. We wish them all the success.' The Qatar Economic Forum, Powered by Bloomberg, is the Middle East's leading news-driven event dedicated to global business and investment. The Forum convenes global leaders to provide new and unique perspectives on the issues driving boardroom conversations. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
