Marking a major turning point in its decades-long history, Qatar Petroleum has changed its name to QatarEnergy.

With a new logo and brand identity, “QatarEnergy will continue to deliver the cleaner energy that the world needs and to play its role as an active partner in search for better solutions in the ongoing energy transition,” said HE the Minister of State for Energy Affairs, Saad Sherida al-Kaabi.

Announcing the new logo and brand identity at a special event in Doha Monday, al-Kaabi said, “This follows a historic evolution that saw Qatar Petroleum Company (QPC) transform into Qatar General Petroleum Corporation (QGPC), then becoming Qatar Petroleum (QP), some 20 years ago, and QatarEnergy (QE) today.”

At the event, al-Kaabi, also the President and CEO of QatarEnergy provided an overview of the “historic milestones” that have driven this transformation.

This include Qatar’s first oil discovery in 1938, the discovery of the “world’s biggest” non-associated gas field in 1971, and eventually becoming a “global LNG leader”.

The minister also shed light on how Qatar Petroleum has evolved over the past seven years, which saw a major restructuring in 2014, bringing marketing affiliates such as Tasweeq and Muntajat into QP, and conducting one of the world’s “largest mergers” in the gas business to create the leader in the energy business worldwide –Qatargas.

This, he noted also included taking over the management and operation of major energy resources such as Al-Shaheen, Idd al-Shargi and Al-Rayyan oil fields.

Al-Kaabi noted, “We are moving full steam ahead to develop the North field by building state-of-the-art LNG trains that would take our leadership position further with a production capacity of 126mn tonnes per year by 2027.

“Not only that, but also we are making sure that we protect our environment by keeping our carbon footprint at a minimum. This is why we are utilising sophisticated carbon sequestration methods to capture and sequester 9mn tonnes of carbon dioxide a year by the end of the decade.”

Al-Kaabi highlighted “natural gas is our core business, and we are conducting that in the most responsible way. Natural gas is also part of the solution in the ongoing energy transition and that it will be a requirement for sustaining the development of the world for at least a few decades.”

“Becoming QatarEnergy reflects our understanding of the global changes and our response to the need to protect our planet and its environment. Not only will our LNG projects bring additional cleaner energy to customers across the globe, but we will continue our heightened commitment to our central role in the global energy transition.

“I would like to thank all our employees, past and present for their dedicated and diligent efforts, which led to this moment. My thanks are also extended to the members of our executive team as well as our companies, affiliates and joint ventures. We are greatly indebted to His Highness Sheikh Tamim bin Hamad al-Thani, the Amir of the State of Qatar, for his continued and unlimited guidance and support.”

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