Relevance: Prelims/Mains: G.S paper II: International & G.S paper III: Economy: Resources: Trade
Why in news?
- The United Arab Emirates today announced the discovery of a new natural gas field containing 80 trillion standard cubic feet of gas in the cross-border area of the Emirates of Abu Dhabi and Dubai.
About:
- Government of Dubai stated that the discovery of the Jebel Ali gas field will contribute to achieving gas self-sufficiency for the nation and support the next phase of its major development projects in line with the nation’s strategic development plan for the coming 50 years.
- A strategic cooperation agreement between the Abu Dhabi National Oil Company (ADNOC), a top energy company of the UAE and the Dubai Supply Authority (DUSUP) to continue to explore and develop shallow gas in the cross-border area of the Emirates of Abu Dhabi and Dubai, as part of the joint venture called the Jebel Ali field.
Key highlights:
- This new gas field, spanning an area of 5,000 square kilometres in the cross-border area of the two emirates, represents one of the largest natural gas discoveries in the UAE.
- The discovery strengthens the UAE’s position among countries with the world’s largest natural gas reserves.
- This discovery will help UAE in transiting the gulf nation from a net importer of gas to a potential net exporter of gas in coming times.