Special Report-Qatar Energy Prepares ESG Framework to Issue Green Bonds

Qatar Energy, one of the world’s biggest LNG suppliers, aims to re-position itself as environmentally responsible. The company is planning to sell “green bonds” to that end, which could be worth billions of dollars. The natural gas giant works to launch an Environmental, Social and Governance (ESG) framework to sell the bonds. If completed, this project will be the first time a national oil company among the Gulf States sells green bonds.

Qatar Energy has sent proposals to banks a few weeks ago to begin working on the project. Once the framework is done, the company will begin selling bonds, but it is not expected to start this year.

It is still unclear what the standards are for a green bond, but some countries and regions have started to put forth their own guidelines like the one issued by the European Commission last July.

Qatar’s state-owned energy company ships one out of five LNG cargoes globally. The company was formerly known as Qatar Petroleum, but rebranded partly because of ESG considerations.

The company’s North Field LNG expansion project is expected to boost Qatar’s LNG exports from the current 77 million tonnes per annum (mtpa) to 126 mtpa in 2027. International Energy Agency (IEA) has warned investors not to fund new oil, gas and coal projects if the world gets to reach net zero emissions by 2050.

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