UAE to join world's 12 largest gas suppliers
DUBAI, May 15, 2012
(AFP) - The UAE announced on Tuesday it will join leaders of the world's
biggest gas suppliers in the Gas Exporting Countries Forum, state news agency
WAM reported Tuesday.
"The cabinet gave
approval today (Tuesday) for the UAE's decision to join the Gas Exporting
Countries Forum," WAM said.
The GECF, whose
members hold just under 70 percent of the world's natural gas reserves, was
founded in 2008 and is based in Qatar.
It currently comprises
Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Oman,
Russia, Trinidad and Tobago and Venezuela.
Kazakhstan, Norway and
the Netherlands are observers.
The UAE which has
proven reserves of 97.8 billion barrels of oil also has over six trillion cubic
metres (212 trillion cubic feet) of gas, ranking it fourth in the world.
Russia is the world's
largest gas producer and sits on 30 percent of global reserves, while Qatar is
the largest liquefied natural gas (LNG) exporter with a production capacity of
77 million tonnes a year.
tm/lyn/al
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