UAE to invest $25 bn in gas development projects

Moscow, July 3 (IANS/WAM) The UAE will invest nearly $25 billion on gas development projects, including exploring new gas fields and increasing gas output, in the next five years, Minister of Energy Suhail Al Mazrouei has said.

Gas, as a clean and environmentally-friendly source of energy, will remain a major factor in the world energy supply equation and a driving force for the world economic growth, Al Mazrouei said at a summit of the Gas Exporting Countries Forum (GECF) in Moscow.

But, he warned that any shortage of gas supplies and increase in gas prices could negatively affect the status of gas as a reliable source of energy, prompting consumers to seek other alternative sources to meet their demand.



The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.