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UAE may import gas from North America

: Wednesday, January 29 - 2014 @ 00:00

The UAE oil minister, Suhail bin Mohammed al-Mazroui has said the government is considering the possibility of importing natural gas from North America, in what would be one of the most striking developments since the start of the US shale boom, Reuters has reported. Around a dozen long-term deals, each worth billions of dollars, have recently been signed behind closed doors between US producers and buyers in China, Japan, Taiwan, Spain, France and Chile as global demand for gas increases. “We may follow the same trend of considering investments in the US and Canada to bring some of that gas back home,” al-Mazroui said at an energy conference in London. The Abu Dhabi National Energy Co (Taqa) has already invested in Canada’s oil and gas sector but so far has not been publicly involved in North American natural gas export projects. “The UAE is seriously thinking about that now,” the minister said.

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Wednesday, January 29- 2014 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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