A London Based Digital Publication Covering Diplomatic & Business Activities Globally

Wednesday, November 29, 2023

UAE to Invest $25bn in Gas Development Projects

UAE to Invest $25bn in Gas Development Projects
UAE to Invest $25bn in Gas Development Projects

(Moscow) – Gas remain a major factor in the world energy supply equation and a driving force for the world economic growth, H.E. Suhail Al Mazrouei, UAE Minister of Energy, has affirmed. The potential role of gas in the world energy mix rests on availability of frequent supplies at affordable prices, Al Mazrouie told the second 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 on gas status as a reliable source of energy, prompting consumers to seek other alternative sources to meet their demand. Likewise, he noted, maintaining a balanced in world gas market could diversify gas uses and attract more investment for upstream and downstream sectors.
In his address at the oil meeting, Al Mazrouie said the UAE would invest nearly US$ 25 billion on gas development projects in the next five years to explore new gas fields and increase gas output. In the same context, he added, several UAE oil and gas companies were investment in gas development and production projects in different countries.

Latest Posts

Latest Posts

Stay in touch

To be updated with all the latest news, offers and special announcements.


Ministry of Economy to organize COP28 Sustainable Trade Forum.

The UAE Ministry of Economy will host a sustainable...

Bahrain Sri Lanka ties discussed

In a significant diplomatic exchange on November 21 in...

Oil Minister Welcomes Sakha Officials in Meeting

Manama, Nov. 20 (BNA): Dr. Mohammed bin Mubarak Bin...

Investopia Inks 8 MoUs for 2024 Event

Investopia strengthens its position with eight key partnerships, signing...

UAE Minister Urges Global Support for Sustainability

During the Global Food Security Summit hosted by the...

Emirates and flydubai Seal $63 Billion Deal for 125 New Aircraft, Boosting UAE Aviation Vision.

Emirates and flydubai announce groundbreaking $63 billion deal for...

UAE leaders extend congratulations to the Sultan of Oman on National Day.

President Sheikh Mohamed bin Zayed Al Nahyan has conveyed...

Abdullah bin Zayed and Ugandan FM discuss enhancing bilateral ties and cooperation.

H.H. Sheikh Abdullah bin Zayed Al Nahyan, the Minister...

“UAE and South Korea Economic Ministers Discuss Strengthening Cooperation and Business Access.”

In a diplomatic exchange, Minister of Economy, Abdullah bin...