18-01-2017

According to a report from TechSci Research, the LNG market in the UAE is expected to grow with a compound annual growth rate of 7.6% from 2016-2025 due to both declines in domestic natural gas supplies and government initiatives to encourage the adoption of Liquefied Natural Gas (LNG) based power generation and cleaner energy.

"Easy availability of LNG from Qatar, Australia, Canada, Iran etc., and growing need for environment friendly fuels are expected to aid growth in the UAE market for LNG during the forecast period" explained Karan Chechi, the Research Director of TechSci Research.

In 2015, LNG was used predominantly for the metal and petrochemical industries, but increased urbanisation and industrialisation are expected to contribute to the forecasts in the UAE LNG market between the 2016-2025 period. In particular, Dubai and Abu Dhabi dominated the UAE LNG market, and in 2016 Abu Dhabi Gas Industries (GASCO) in a joint venture with Total, Shell and ADNOC, established a floating storage regasification unit (FSRU and started importing LNG from US company Excelerate Energy.

*Source - https://www.energyglobal.com/downstream/gas-processing/15122016/uae-lng-market-to-witness-growth/

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