Doha: Qatari Minister of State for Energy Affairs Saad Al-Kaabi emphasized the critical need for continued investments in energy projects to sustain production levels and meet growing global demands. Speaking at a panel discussion during the Qatar Economic Forum, Al-Kaabi highlighted the necessity of a fair oil price to ensure the longevity and sustainability of energy production.
According to Kuwait News Agency, Al-Kaabi’s remarks came during a session titled “Global Energy Security and Supply Assurance,” where he shared the stage with Conoco Phillips CEO Ryan Lance. Al-Kaabi underscored the increasing global demand for energy, driven by an anticipated population growth of 1.5 to 2 billion people over the next 20 to 30 years, necessitating substantial energy input to support economic development.
In addition, Al-Kaabi addressed the recent visit of former US President Donald Trump to Qatar, pointing out the significance of Qatari-American collaborations in the energy sector. Notably, he mentioned key projects such as the Golden Pass LNG export project and the Golden Triangle petrochemical plant, which boasts the world’s largest ethane cracker unit.
Lance, contributing to the discussion, noted the effects of tariffs imposed by Trump, predicting potential price increases in markets due to these tariffs. He highlighted that the US is already observing a decline in prices and emphasized that all commercial systems or trade plans require time to achieve their economic objectives.