The meeting came as divisions grow in Europe over the proposed tariffs
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In his address at the oil meeting, Al Mazrouie said that the UAE would invest nearly $25 billion on gas development projects in the next five years to explore new gas fields and increase gas output. In the same context, he added that several UAE oil and gas companies were investing in gas development and production projects in different countries.
The potential role of gas in the world energy mix rests on the availability of frequent supplies at affordable prices, Al Mazrouie said. But, he warned that any shortage of gas supplies and increase in gas prices could negatively affect on gas status as a reliable source of energy, prompting consumers to seek other alternative sources to meet their demand.
Likewise, he noted, maintaining a balance in the world gas market could diversify gas uses and attract more investment for upstream and downstream sectors. —
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