Oil and Gas in the UAE – Gerald Butt
The prosperity of the United Arab Emirates and its rapid transformation from a backward desert region to one with a booming economy have been made possible by revenue from oil exports. The UAE possesses nearly 10 per cent of the world’s total reserves, and there is no
doubt that oil will continue to provide the income for both economic growth and the expansion of social services for several more decades at least. In the coming years, natural gas will play an increasingly important role in the UAE’s development – particularly as a fuel source for power generation, petrochemicals and manufacturing industry. The UAE has also taken the initiative in developing an intra-Gulf gas network that could eventually link up with the Indian subcontinent.
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