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“Abu Dhabi to develop great LNG export by 2024”

Abu Dhabi - The capital of the United Arab Emirates Abu Dhabi could develop significant liquefied natural gas’ (LNG) export capacity by 2024, writes the English speaking UAE’s journal The National, quoting an analysis by Wood Mackenzie

Abu Dhabi - The capital of the United Arab Emirates Abu Dhabi could develop significant liquefied natural gas’ (LNG) export capacity by 2024, writes the English speaking UAE’s journal The National, quoting an analysis by Wood Mackenzie.

“To export LNG at capacity (around 5.6/5.8 million metric tonnes per annum) requires a little over 1 billion cubic feet per day to be sent to the liquefaction plants,” said Tom Quinn, senior research analyst for Middle East at Wood Mackenzie.

The UAE, which accounts for 4.2 per cent of global production of crude and 3.1 per cent of proven reserves of natural gas, announced it had found 15 trillion cubic feet of gas in existing and untapped blocks. The new finds would mark a 7.1 per cent addition to existing reserves of gas, which stood at around 209.7 trillion cubic feet at the end of 2017, according to the latest BP Statistical Review of World Energy.

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