Experts highlighted the resilience of Qatar’s oil and gas industry during a webinar titled ‘Resilient and Resurgent: Qatar Oil and Gas Overview’, which was organised by the International Chamber of Commerce Qatar (ICC Qatar) in partnership with Refinitiv. 

The webinar comprised a panel discussion on how the blockade has changed Qatar’s foreign trade dynamics, the emergence of alternative and cleaner sources of energy and the impact of COVID-19 on the energy sector. The distinguished members of the panel included Hatem Elsafty, Partner at Mazars; Howard Bevan, Head of Energy at Al Attiyah Foundation; Sudharsan Sarathy, Senior Oil Analyst at Refinitiv; Abhishek Kumar, Senior Oil Analyst at Refinitiv as well as Kristine Petrosyan, Oil Market Analyst at International Energy Agency (IEA) who moderated the session.

During the event, Anne Kat Brevik, Director and LNG Researcher at Refinitiv, presented an overview of liquefied natural gas (LNG) in Qatar. 

Brevik pointed to the recent sanctioning of Qatar Petroleum’s North Filed Expansion Phase 1, and added: “The timing seems good. Last winter’s spike in Asian LNG spot prices and expectations of a gradual tightening of the LNG market balance over the next few year, should support the willingness of importers to sign up for LNG supply contracts”.    

During discussion on effects of blockade on oil and gas industry, Elsafty said: “Qatar’s response to political turmoil, showed with no doubt, a leadership brilliance through their development of business continuity management systems and resilience programmes, at its best, at all levels of the country, especially its oil and gas sector, resulting in speedy recovery from major block-aid incident, ending up with Qatari economy becoming stronger, more efficient, and more effective”.

Petrosyan also noted the particularly diverse discussion touching upon oil and LNG, short-term and long-term developments in the energy markets. “The webinar benefitted from diverse backgrounds of participants, well-balanced between fundamental analysis and geopolitical discussion” . 

Sheikha Tamader Al Thani, Director of International Relations and Chamber Affairs at ICC Qatar, added: “Despite the fluctuation of oil prices worldwide as a result of the COVID-19 pandemic, the State of Qatar has managed to maintain its position as a leading player in the global energy market, as well as demonstrate its commitment to strengthening its position by signing major agreements with countries such as China, one of the largest consumers of oil in the world”.

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