Qatar Petroleum launched on Wednesday its new Sustainability Strategy promising a prosperous future for Qatar.
State-owned Qatar Petroleum, the country’s largest energy producer, has announced a strategic plan to go greener in efforts to help stem climate change.
The strategy is the company’s roadmap towards achieving Qatar National Vision 2030, is also based on the United Nations Sustainable Development Goals to control planet-warming emissions while providing clean and affordable energy supplies.
“The new Strategy establishes a number of targets in alignment with the goals of the Paris Agreement, and sets in motion a plan to reduce greenhouse gas emissions by 2030,” QP said in a statement.
“It stipulates deploying dedicated Carbon Capture and Storage (CCS) facilities to capture more than 7 million tons per annum of CO2 in Qatar,” the statement added.
The project will minimise emissions from Qatar’s LNG facilities by 25% and its upstream facilities by at least 15%.
“Qatar is the world’s largest LNG producer and, by implementing our Sustainability Strategy, we will play a decisive role in helping reduce the impact of climate change by implementing measures to curb emissions, produce LNG using the latest proven carbon reduction technologies, and compensating for residual emissions where necessary,” said the Minister of State for Energy Affairs Saad Sherida Al-Kaabi.
Flare intensity will also be reduced across upstream facilities by more than 75%.
Exposure to upstream oil extraction has hazardous health impacts on humans and has been linked to cancer, liver damage, immunodeficiency, and neurological symptoms.
Flaring also releases dangerous air pollutants such as black carbon, methane, and volatile organic compounds.
Such toxic pollutants outspread into the atmosphere, leading to environmental issues like acid rain and the generation of greenhouse gases which causes global climate change.
The move is set to eliminate such dangerous impact on health and global climate by 2030.
“Furthermore, it sets out a target to eliminate routine flaring by 2030, and limit fugitive methane emissions along the gas value chain by setting a methane intensity target of 0.2% across all facilities by 2025,” stated by QP.
QP is striving to become one of the best National Oil and Gas Companies in the world and implementing the latest strategy paves the way to achieve Qatar’s national vision 2030 goals in the near future, according to Al-Kaabi.
“Qatar Petroleum’s Sustainability Strategy is a bold commitment with clear goals and milestones that ensure we embed sustainability considerations into the way we plan and manage our entire business and operations,” said the minister, who is also the president and CEO of Qatar Petroleum.
In highlighting Qatar Petroleum’s concern in climate action, he said: “Our climate change mitigation plans are consistent with the goals of the Paris Agreement, and provide valuable support to global ambitions to achieve net zero emissions.”
It requires providing more than 4GW of electric power from carbon- free renewable energy to its portfolio in Qatar in order to eliminate more than 5 million tons of CO2 emissions per year.
“Anchored on three main pillars: Climate Change Mitigation, Operational Responsibility, and Social and Economic Development, Qatar Petroleum’s Sustainability Strategy is designed to meet the economic, environmental and social challenges in an increasingly competitive and complex energy landscape,” states by Qatar Petroleum.
The strategy complements the company’s main goal to offer a world-class culture that ensures a secure, safe and healthy environment for its community.
Moreover, the state-owned oil company is focusing on improving biodiversity in Qatar and contributing to enhancing local habitats by offering a better quality of life.
QP’s sustainability strategy also contributes to the economy “by developing and diversifying local economies.”
It does so through investing in education and technical training within local communities as well as creating opportunities in Qatar’s energy sector.