Qatar Energy, formerly known as Qatar Petroleum, the state-backed oil and natgas company of Qatar, had been mulling an option to a sweeping overhaul in a bid to renovate as an environment friendly entity for the investors through a directive that includes sales of “Green” bonds worth several billions of dollars, a press agency report had unmasked later last week citing at least three sources familiar with the issue who wished to remain anonymous given the scale of sensitivity of the subject-matter.
Besides, the press agency report had quoted one of the sources as saying that Qatar Energy had been working out a framework aimed at branching out an environmental, social and governance (ESG) mandate which in effect would enable the world’s leading LNG (liquefied natural gas) supplier to issue green bonds, which in simple-term are unadorned debts that could be used for environment friendly activities.
Qatar Energy mulls a ‘green’ bond issuance
On top of that, had Qatar Energy’s plan to sell off its green bonds come into effect, it would be the first green bond sale of a state-backed Gulf petroleum company and would mark off a milestone event for the fossil-fuel rich Mideast.
Nevertheless, while being asked over the subject-matter, Qatar Energy had denied the feasibility of the ESG framework, but declined to comment over a bond issuance.
Nonetheless, the press agency report had quoted another source as saying that a consultancy firm had been working on an ESG framework for Qatar Energy and the company had sent an official proposal to lenders about issuance of a ‘green’ bond about two weeks earlier, though, the source had declined to name the consultancy firm.