International Finance
Energy Featured

Qatar Petroleum to create low carbon energy by growing renewable energy capacity

Qatar Petroleum_IFM_Image
Qatar is planning to increase its solar capacity by 2-4 gigawatts (GW) by 2030

State-owned petroleum company Qatar Petroleum is planning to create low carbon energy by growing its renewable energy capacity, media reports said. The Middle Eastern country is planning to increase its solar capacity by 2-4 gigawatts (GW) by 2030.

Recently, Qatar Petroleum released its new Sustainability Strategy report, which establishes several targets in line with the goals of the Paris Agreement. The company plans to reduce its greenhouse gas emissions by 2030. According to the report, the company wants to cut down the emissions intensity of the country’s LNG facilities by 25 percent and of its upstream facilities by at least 15 percent. It also wants to reduce flare intensity across upstream facilities by over 75 percent.

In its report, Qatar Petroleum said, “Our strategy embraces the transition towards a low carbon industrial landscape and is intended to be flexible and resilient to change. It is designed to grow the energy supply while helping to meet the dual challenge of achieving low carbon operations. This reflects our alignment with the climate targets established by the Paris Agreement, which urges the world to mitigate greenhouse gas (GHG) emissions while alleviating poverty rapidly.”

The company further said, “We are continually striving to set ambitious targets, aim to reduce emissions in all our operations and produce clean fuels. To mitigate GHG emissions from our operations (including our equity partnerships), we focus on increasing energy efficiency and reducing flaring, venting, and other emissions sources.”

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.