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UAE says trans-country natural gas pipelines must for energy security

People, Person, Flag WAM
Suhail Al Mazrouei says 2023 will see more stability in the energy markets

UAE minister of energy and infrastructure Suhail bin Mohammed Al Mazrouei has emphasised the importance of accelerating new investments to meet rising energy demand, as a number of Opec+ member countries cut output, the UAE state-run WAM news agency said.

Speaking on the sidelines of the Global Energy Forum in Abu Dhabi, the minister affirmed the UAE’s commitment to providing the necessary support to ensure a balanced oil market, in line with its plan to advance the five million barrels per day (bpd) production target to 2027.

Emphasising the importance of accelerating investments in gas exploration and production, the minister said that the world requires trans-country natural gas pipelines, such as the Dolphin gas pipeline project, a natural gas project between Qatar, the UAE and Oman that was the first of its kind to contribute to improved energy security and integration among Gulf countries.

He added that geopolitical factors in the region and around the world influence the global energy map, expressing his hope that the current year 2023 would see more stability in the energy markets, as well as a decline in gas prices and volatility.

“Price variations have a significant impact on the economies of many countries, and since there is such a high demand for gas, we hope for new projects to be launched in this sector,” Al Mazrouei added.