Promising potentialities for UAE natural gas

In its recent edition, the UAE Magazine for Oil and Industry quoted UAE Minister of Oil and Mineral Resources Obaid Bin Seif Al Nasiri as saying that the UAE possesses promising potentialities for developing and for utilizing its natural gas, especially amid expectations of an increasing international demand for natural gas.

Al Nasiri said that gas production of the UAE is currently at 27.5 billion cubic meters per year while the gas reserves are about 5831 billion cubic meters, representing 4% of international gas reserves. This is the third biggest gas reserve among the countries of the Middle East, and it will last for 21 years at the current rate of export.

He expected that international dependence on gas will increase, as it is a great source of energy amid the international economic and technological advancement.

Al Nasiri said the share of natural gas among other sources of energy in the international market will increase from its current figure of 22% to 27% by the year 2020, while other sources will decrease from 39.5% to 37%, and coal will decrease from 28% to 25%.