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FINANCIAL NEWS
UAE eyes USD25B gas investments
02 Jul 2013
(MENAFN) UAE Minister of Energy affirmed Suhail bin Mohamed Faraj Fares Al Mazrouei unveiled the the UAE is set to inject USD 25 billion to develop gas related projects as it is considered one of the most important resources for a cleaner and healthier environment, he said at the oil meeting at the second summit of the Gas Exporting Countries Forum (GECF) in Moscow.
Investments are supposed to cover 5 years of exploring new gas fields and enhance gas production.
The minister warned that any deficiency of gas supplies and surge in gas prices could negatively reflect on gas position as a dependable source of energy asserting on the importance of maintaining a balance in the world gas market to expand gas uses and draw more investment for upstream and downstream sectors.
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