Gulf countries have pumped billions of dollars to develop their gas sector and are set to keep up spending within long-term plans to expand revenues and meet domestic and external demand.
Qatar, which controls the world's largest gas resources after Russia and Iran, is spearheading such projects to become the dominant liquefied natural gas (LNG) exporter when it will pump in excess of 77 million tonnes within five years. The gas projects, a turnaround in the region's policy that had long neglected that sector, have already started to pay off in terms of additional revenue, attracting foreign capital and meeting local and foreign demand. Three members of the six-nation Gulf Co-operation Council (GCC) - Qatar, the UAE and Oman - have become major gas exporters and their gas sales have largely boosted their revenues and gross domestic product.
Read More
No comments:
Post a Comment