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New gas deal to serve Dubai
United Arab Emirates, Economics, 2/23/1998
The United Arab Emirates has secured a long term supply of gas from Abu Dhabi to Dubai.
The agreement, which comes with president Sheikh Zayed's blessing, will give Dubai the resources it needs to fuel industrial growth through the coming century.
"The deal reduces a lot of anxiety as to where the economy of Dubai will go. It's a good step this year," an Arab economist said.
Economists and analysts said this agreement signifies the integration of the local economy, providing the local market with low prices and secure supplies.
Supreme Petroleum council head Yosef ben Omeir signed the long-awaited deal last Wednesday.
"The deal is for 800 million cubic feet of gas a day, starting once the pipeline is built", an officials said.
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