UAE likely to become net importer of natural gas due to rising domestic demand

The UAE plans to raise its oil production capacity to 3 million barrels a day, from the current 2.8 million, during the current year: minister

Zawya Dow Jones

Published: 17:34 January 9, 2013

Image Credit: Abdul Rahman/Gulf News Archives

Mohammad Bin Dha’en Al Hameli

Abu Dhabi: The UAE is likely to become a net importer of natural gas in the next few years due to rising domestic demand, the country’s Oil Minister Mohammad Bin Dha’en Al Hameli said on Wednesday.

“We are a major consumer of natural gas...and already we have taken steps to import gas from Qatar via the Dolphin pipeline,” the minister said in a speech at an event in Abu Dhabi.

“In the coming years as our domestic demand grows, we expect to become a net importer of natural gas,” he said.

The UAE holds about 214 trillion cubic feet of gas with consumption pegged at around 4 billion standard cubic feet per day, or SCFD.

The UAE plans to raise its oil production capacity to 3 million barrels a day, from the current 2.8 million, during the current year, Al Hameli said. The country’s crude output stood at 2.6 million barrels a day in December and it is currently producing at around the same level, the minister told reporters at an event in Abu Dhabi.

The country will continue to develop an energy mix, like nuclear, to makes sure it is not eating into its energy exports, the minister added.

Several Gulf states, including Saudi Arabia, are looking at nuclear power after failing in recent years to develop enough gas production to meet their rising electricity demand, especially during the summer when use of air conditioning soars.

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