The CEO of Qatargas told the delegates at a gas conference in Abu Dhabi that his company were in a great position to become the world’s largest exporter of natural gas, and that he was unfazed by the current supply glut.
Addressing the delegates at the Gastech 2009 conference, Faisal Al Suwaidi gave a typically bullish speech that underlined Qatar’s huge investment in building an multi-billion dollar infrastructure to support the export of its huge reserves of natural gas.
Al Suwaidi admitted that demand had dropped in 2009 compared to the previous year as a result of the global recession, but he still believed that exports would grow significantly in the coming decades.
“We still believe demand will continue to grow,” Al Suwaidi said. “Recession should not and will not make Qatar change its tactics. Our business is not and will never be for the short term.”
When questioned about oversupply, Al Suwaidi was confident Qatargas had the facilities to handle any situation.
“What is special about QatarGas is that we have put measures in place where we can handle surplus capacity quite easily. We have extra storage at Ras Laffan, on our fleet of LNG vessels and at various other facilities around the world,” Al Suawaid said.
