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Monday, February 3, 2020

Wow, It Simply Never Quits -- UAE Natural Gas Discovery Could Be Largest Since 2005 -- Bloomberg -- February 3, 2020

Link here.
  • new discovery: the Jebel Ali reservoir
  • located between Dubai and Abu Dhabi (two biggest sheikhdoms in the United Arab Emirates)
  • 80 trillion cubic feet of gas resources;
  • the country is seeking to become self-sufficient in gas supply by 2030, a step that would allow it to break its reliance on imports from Qatar
  • is that around 150 billion boe?
  • could meet the country's gas demand for nearly three decades
  • building nuclear, solar and coal-fired power plants, while Adnoc has invited international companies to help tap previously inaccessible gas deposits
  • the Jebel Ali discovery is the biggest since the Galkynysh field was found in Turkmenistan 15 years ago, according to WoodMac’s Yates
  • the announced resources would make it the fourth-biggest gas field in the Middle East behind Qatar’s North Field and Iran’s South Pars, which are part of the same Persian Gulf deposit that make up the world’s largest offshore gas field
  • Abu Dhabi’s Bab field is the third-largest, according to WoodMac. 
See this post to put 80 trillion in perspective.

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