Uae Gas Sector Plans To Invest $25 Billion

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The UAE will invest nearly $25 billion in gas development and production projects in the Uae Gas Sector Plans To Invest $25 Billionnext five years as announced by senior officials from UAE’s Ministry of Energy at a summit in Moscow as press released. The country will explore new gas fields and increase gas output not only in the region but in different countries. Gas will remain to be a major factor in the world’s clean and environmentally-friendly energy supply equation and a driving force for the economic growth of the world. Officials warned that any shortage of gas supplies and increase in gas prices can affect the country’s gas status and would prompt consumers to find alternative sources to meet their demands. About 36 per cent of the world’s gas reserves are in the Middle East and almost one-third of the top 20 largest and oil and gas projects in the Middle East under execution are now taking place in the UAE’s booming upstream sphere and which the UAE holds the world’s seventh largest gas reserves of 213 trillion cubic feet. According to Arab Oil and Gas sector site, the UAE also plans to build a liquefied natural gas bunker station in Fujairah to meet 15% of its increasing demand on gas due to industrial expansion. The UAE is also developing its own gas sector such as the Royal Dutch Shell that won a multi-million-dollar project to develop the Bab Sour gas field with Abu Dhabi National Oil Company (ADNOC) valued at around $10 billion. Another gas project to be finished by the end of 2014 being developed by Occidental Petroleum is a Shah sour which will produce significant volumes of condensate and large quantities of sulphur powder, taken by rail to the Gulf Port of Ruwais. The availability of frequent supplies at affordable prizes of gas is a factor to world’s energy potentiality. There is therefore a need to maintain a balance in the world gas market to attract more investments for upstream and downstream sectors and as well diversify gas uses.