QatarEnergy (QE)
Overview
QatarEnergy (QE; and formerly Qatar Petroleum or QP) is the state owned petroleum company in Qatar. The company operates all oil and gas activities within the country, including exploration, production, refining, transport, and storage. QE’s President & CEO is HE Saad Sherida Al-Kaabi, Minister of State for Energy Affairs. QE’s operations are directly linked with state planning agencies, regulatory authorities, and policymaking bodies. As of 2018 it was the third largest oil company in the world by oil and gas reserves. The company has many subsidiaries and is largely tied to all sectors of government and commerce.
Liquified Natural Gas or LNG, is one of the dominant revenue components for QatarEnergy. QE is working on a major project called the North Field Expansion project which will work to expand the north east petroleum field on Qatar’s coast and include smaller projects such as new train lines, pipelines, and platforms. The project will increase Qatar’s LNG production by nearly 43% and is currently underway. QE also has a good relationship with other petroleum companies in the region such as Exxon Mobile which it has partnered with in its North Field Expansion project.
Oil and gas have given Qatar one of the highest per capita incomes in the world and made it one of the fastest-growing economies. Displaying an enlightened approach to prosperity, Qatar is channeling its wealth not into trophy assets but into funding the advancement of culture, science, and education. Its strategic path towards a post-hydrocarbon economy will be through a vibrant, knowledge-based society that is made possible by its petroleum exports.
QatarEnergy is part of the US-Qatar Business Council’s Board of Directors.