Minister says UAE wants to increase LNG exports because global demand is outpacing supply
Suhail al Mazrouei, the Energy Minister of the United Arab Emirates, said that his country plans to not only meet its domestic demand for natural gas liquefied, but to also increase exports.
Mazrouei agreed with Qatar’s energy minister, that the global demand for gas outpaces investment in production.
"We are not only increasing our LNG exports, but also our local LNG demand," Mazrouei said at the Abu Dhabi Financial Week. "I agree with His Excellency Minister of Qatar, that the demand will be much greater than the projects we are currently seeing," Mazrouei stated on the sidelines Abu Dhabi Financial Week.
Qatar's Energy Minister Saad Al-Kaabi stated on Saturday that
Global gas demand will remain high
The report cited the rising demand for energy due to artificial intelligence and predicted that LNG consumption would reach 600-700 millions tons per year by 2035.
In June, the international investment arm of Abu Dhabi National Oil Company's XRG said it had made a significant investment in the UAE.
The company aims to be a leader in the gas and LNG industry
The capacity will be between 20 and 25 millions metric tons per year by 2035. (Reporting and Writing by Federico Maccioni; Editing by Louise Heavens).
(source: Reuters)
