Qatar Petroleum is a state-owned fully integrated oil and gas company headquartered in Qatar. In 2020, it had USD 29.76 billion in revenue and a reported 8,536 employees in 2019*. Qatar Petroleum has large gas-to-liquids operations. The company aims to grow the gas share in its portfolio to at least 90% by 2030 and to almost double its LNG production by 2027.
In 2019, Qatar Petroleum established two scope 1 and 2 emissions intensity targets: a 25% reduction at its LNG facilities and a 15% reduction in its upstream operations, compared to 2013 levels. The company aims to achieve these targets by 2030 as part of its climate road map for the next decade. However, the targets could not be assessed because the company does not disclose its base year emissions intensity.
To demonstrate commitment to the low-carbon transition, Qatar Petroleum should set long-term as well as regularly spaced intermediate targets aligned with its 1.5°C pathway and clearly report its base year emissions. Furthermore, it should incorporate scope 3 emissions into its targets.
Qatar Petroleum’s scope 3 emissions from upstream production are expected to exceed its 1.5°C carbon budget by 94% between 2019 and 2050. This is based on the company utilising all its remaining reserves from existing and approved fields. Moreover, according to the International Energy Agency (IEA), no new oil and gas fields can be approved for development under a 1.5°C scenario. Despite this, Qatar Petroleum has continued to explore for and discover new oil and gas reserves, particularly at its North Field Expansion project.
Qatar Petroleum is aiming to develop renewable energy through solar power projects with a capacity of 1.4 gigawatts (GW) by 2025 and 2-4 GW by 2030. Currently, the company is constructing a solar power project with a capacity of 800 megawatts (MW), planned to be completed in 2022, as well as two 400 MW plants at Qatar Petroleum’s Ras Laffan and Mesaieed Industrial Cities, which are planned to start operations before 2025.
The company reports that these projects will help power its LNG expansion and a petrochemicals complex. It is unclear whether the company plans to generate renewable energy as a low-carbon revenue stream for sale to third parties. The company should aim to develop low-carbon products to reduce its dependency on hydrocarbons.
Qatar Petroleum receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. The company’s scope 1 and 2 emissions reduction targets do not demonstrate the ambition required by its 1.5°C pathway.
Qatar Petroleum is planning to develop 2-4 GW of renewable energy by 2030 and to increase its CCS capacity, indicating its increased focus on climate change. However, it is unclear whether the company will use renewable energy to only power its own operations or also develop it as a product that can help transition the company’s sold product mix to one that is more compatible with the low-carbon economy.
By 2030, Qatar Petroleum aims to eliminate routine flaring, incorporate 2-4 GW of renewable energy – mainly through solar power projects – into its portfolio, deploy carbon capture and storage (CCS) to capture 7 million tonnes of CO2 every year and increase the share of LNG production in its sold product mix.
Qatar Petroleum is focused on improving its energy efficiency and reducing methane emissions. It has interests in two solar power projects with a total capacity of 1.6 GW that are currently being constructed. In 2019, the company inaugurated a CCS facility with a designed capacity to capture 2.2 million tonnes of CO2 each year.
Qatar Petroleum has committed to the World Bank’s Zero Routine Flaring by 2030 Initiative. However, between 2014 and 2019, there was little change in the company’s sold product mix, indicating that there has been no reduction in its scope 1, 2 and 3 emissions intensity.
Qatar Petroleum increased its climate ambition in 2019 with the launch of its climate road map until 2030. However, the company’s emissions reduction targets are not sufficient to drive alignment with its 1.5°C pathway. Although it aims to incorporate more CCS and renewables into its operations, there is no indication that it plans to transition away from fossil fuels in the long term.