Qatar to Use Sovereign Wealth Fund to Diversify Energy Sources - Minister

© Sputnik / Abdulkader Hajj / Go to the mediabankThe district of West Bay, Doha. File photo
The district of West Bay, Doha. File photo - Sputnik International
ST. PETERSBURG (Sputnik) - Qatar, which holds a significant part of the world's oil and natural gas reserves, intends to use the country's sovereign wealth fund to invest in other types of energy, Qatari Finance Minister Ali Shareef Emadi said on Thursday at a panel discussion at St. Petersburg International Economic Forum (SPIEF).

"In the coming years, we will experience a huge energy transformation and energy will play a leading role around the world in medium and long terms. Energy will remain an important part of our economy. That is why the role of the sovereign wealth fund of Qatar is important. The future of our country depends on it. At the same time, this fund will also invest in other types of energy", the minister said.

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Earlier in the day, Russia's Rosneft CEO Igor Sechin said that oil production in the United States remains the principal factor determining changes in the world energy markets, including those related to oil prices, and the balance of supply and demand.

SPIEF has opened on Thursday and will run through Saturday. Rossiya Segodnya International Information Agency is an official media partner of the forum.

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