UAE aims to boost LNG exports as global demand outpaces supply, minister says
- We intend not only to satisfy our local demand, but we are also, growing our export of LNG, Mazrouei said
ABU DHABI: The United Arab Emirates plans not only to meet domestic demand for liquefied natural gas, but also to grow its exports, Energy Minister Suhail al-Mazrouei said on Monday.
Mazrouei said he agreed with Qatar’s energy minister that global demand for natural gas is outstripping investment in production projects.
“We intend not only to satisfy our local demand, but we are also, growing our export of LNG. And I agree with his excellency minister of Qatar that the demand is going to be much, much more than the projects that we are seeing,” Mazrouei said on the sidelines of Abu Dhabi Financial Week.
Global LNG: Asia spot prices at fresh two-month low as mild weather softens demand
Qatar Energy Minister Saad al-Kaabi said on Saturday that
global gas demand would remain strong, citing rising energy needs from artificial intelligence, and projected that LNG demand would reach 600–700 million tons per annum by 2035.
The international investment arm of UAE’s Abu Dhabi National Oil Company, XRG, said in June it aims to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035.
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