Qatar’s energy sector entering new era of sustainability and development: Experts

DOHA: Experts attending the Qatar Energy Industry Seminar in Doha have outlined some of the significant challenges the energy sector will face in the...

DOHA: Experts attending the Qatar Energy Industry Seminar in Doha have outlined some of the significant challenges the energy sector will face in the years ahead and discussed the mitigation measures that will be necessary to ensure the industry’s continued sustainability, profitability and development.

The event, which was organised by Marsh, the world’s leading insurance broker and risk advisor and business of Marsh McLennan (MMC), examined a range of key topics including likely risks for 2025-2030, emerging HR priorities, new approaches to risk management and the importance of climate resilience.

Asaad Qassas, Chief Executive Officer of Marsh McLennan Qatar, emphasised that the energy sector in Qatar has been a key focus for the MMC Group. He noted the importance of convening experts and practitioners in Doha to explore the broader landscape of risk management, particularly in light of the global challenges facing the industry. Qassas indicated that Qatar is poised to enter a new phase characterized by both risks and opportunities, leveraging its prominent role as a leader in the Liquefied Natural Gas (LNG) market while also addressing increasing climate threats, cyber-attacks, and market fluctuations.

Representing 60 percent of the nation’s Gross Domestic Product (GDP) and 90 percent of export revenues, the energy sector has provided the cornerstone of Qatar’s dynamic economy in recent decades.

As the producer of 25 percent of the world’s LNG, Qatar stands to benefit significantly from ongoing increases in global energy demand, which is forecast to rise by 40 percent by 2040 according to the International Energy Agency (IEA).