The UAE Minister of Energy and Infrastructure, Suhail Al Mazrouei, said that his country seeks to achieve self-sufficiency in gas by 2030 and beyond, as part of its strategy for the gas sector.
This came in statements made by Al Mazrouei to reporters, yesterday, Tuesday, on the sidelines of the "Gastech 2021" conference, which will be hosted from September 21 to 23.
Al Mazrouei said that the UAE is one of the countries that export liquefied gas and that it allocates a large part of its gas for export, noting that it imports gas to meet the increasing domestic needs to keep pace with economic growth.
He stressed that the UAE is witnessing the flow of new gas quantities discovered, explaining that the ministry's goal is to achieve a volume of gas production to meet the growing needs, as it is not considered to meet the electricity supply only.
He added that operating nuclear power plants will reduce the need for gas while contributing to meeting energy needs and producing environmentally friendly electric power.
He pointed out that this contributes to energy security in the UAE and the sustainability of gas supplies to achieve self-sufficiency in gas, noting that the price of gas will go through periods of ups and downs until the market determines the appropriate price.
He explained that the volume of investments required in the energy sector in the UAE until 2050 is about 600 billion dirhams (or about 160 billion dollars).
The UAE ranks third in the Arab world in natural gas reserves, with its production last year reaching 55.09 billion standard cubic meters in 2019.
The average daily consumption of natural gas available in the UAE is about 186 million standard cubic meters per day.
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