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FINANCIAL NEWS
GCC’s gas shortage threatens a prices rise
01 Sep 2013
(MenaFn) Specialists expect a shortage in gas in the GCC by 2015 as a result of the huge demand on gas, according to Gulf Daily News.
The GCC countries can gradually raise the prices of the local gas to solve the shortage problem.
Manaar Energy head of consulting Robin Mills said: “The GCC’s gas shortage can be resolved. But timing is crucial and waiting for solutions to materialize might mean that the GCC will have to burn more valuable liquid fuels to meet demand.”
Mills added: “Governments need a mix of short- and long-term measures to address the gas shortage. They need to invest in new developments to increase production, increase local gas prices steadily to encourage efficiency, and expand the use of alternative sources in the energy mix.”
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