Doha: HE Minister of State for Energy Affairs and President and CEO of QatarEnergy, Saad Sherida Al Kaabi, emphasized the critical need for continued investments in energy projects to ensure sustained production and additional reserves. Speaking at the Qatar Economic Forum 2025 during a panel session on “Global Energy Supplies and Security,” which included Ryan Lance, Chairman and CEO of ConocoPhillips, Al Kaabi underscored the necessity of maintaining a fair oil price.
According to Qatar News Agency, Al Kaabi stated that oil prices should be in the range of $70 to $80 to sustain current production levels and foster growth. He warned that insufficient investment could lead to damaging energy shortages. Highlighting the global demand for energy, Al Kaabi pointed out the projected increase in population and the existing lack of basic electricity for a billion people worldwide, dismissing fears of an oversupply.
Al Kaabi also discussed QatarEnergy’s gas exploration efforts, describing the company as one of the largest in terms of exploration rights. He expressed optimism about the future, despite acknowledging the time required to explore new blocks. Additionally, he reflected on the outcomes of President Donald Trump’s recent visit to Qatar, which led to significant energy partnerships, including projects like the Golden Pass LNG export project.
Further, Al Kaabi shared insights about QatarAirways, noting successful deals signed during Trump’s visit. He revealed plans for fleet expansion with Boeing, citing commercial viability as a decisive factor. The growth of QatarEnergy Trading was also highlighted, with Al Kaabi noting the company’s substantial progress in LNG trading and expansion plans for its shipping fleet.
Addressing relations with Asia, Al Kaabi mentioned strong partnerships with China and India, emphasizing ongoing discussions for additional volumes. He also responded to inquiries about Qatar Airways’ profits, attributing success to the company’s leadership and loyal clientele.
Lastly, Al Kaabi expressed support for the introduction of Riyadh Airlines into the regional aviation sector, offering Qatar Airways’ assistance to the emerging airline. Ryan Lance of ConocoPhillips complemented the discussions by predicting stabilization in US shale oil production if current oil prices are maintained, warning of potential declines if prices fall too low.