Published Date : Dec 07, 2017
Exports of natural gas from the U.S. could find more potential buyers in the Persian Gulf who are already oil-rich as these countries aim to meet the increasing demand.
The U.S. Secretary of Energy, Rick Perry along with Energy Minister of U.A.E. were present at a news conference in Abu Dhabi and said that increasing exports of liquefied natural gas (LNG) from the U.S. could turn out to be an additional source of fuel supply to the gulf region. According to Genscape, IHS Markit Ltd. and Bloomberg vessel tracking, from the past two years, the U.A.E, Egypt, and Jordan have been purchasing liquefied natural gas from the Sabine Pass facility in the U.S.
Rick Perry expressed the desire of the U.S. to be among the suppliers of liquefied natural gas suppliers in the Middle East along with building a strong relationship with U.A.E. He also said that Saudi Arabia was offered gas by the U.S.
Producers of gulf oil such as the U.A.E. and Saudi Arabia depend on gas to power up their industrial facilities, run their air conditioning units in households, and backup the production of petrochemicals. While the Gulf region is enriched with crude oil, the sources of gas are confined to just a few nations. Iran and Qatar share the globe’s largest deposits of gas and are located in the Persian Gulf.
The U.A.E. and the U.S. have given consent to expand the mutual development and oil trade, coal, gas, LNG, and other technologies associated with capturing carbon, its storage and use over the talks held during this week.