Oil & Gas | National Investor Network

Abu Dhabi and Dubai are hailing the largest gas discovery in the last 15 years

Written by Jennifer Delay Iacullo | Feb 4, 2020 2:37:52 AM

Abu Dhabi and Dubai, both members of the United Arab Emirates, are celebrating the discovery of a huge new field that contains about 80 trillion cubic feet (2.67 trillion cubic meters) of natural gas. The Jebel Ali site, which straddles the border between the two emirates, appears to be the largest gas find made anywhere in the world within the last 15 years.

On February 3, Abu Dhabi and Dubai said they had established a joint venture for the Jebel Ali project. The joint venture will extract the gas and deliver it to Dubai, they said.

The project will help the UAE achieve its goal of becoming self-sufficient in gas. The country currently imports gas from Qatar via the Dolphin pipeline.

It will also improve the country’s energy security, said Sheikh Ahmed bin Saeed, the director general of Dubai Supply Authority (DUSUP). “This collaboration will contribute to raising our long-term energy security, which is crucial to realizing our aspirations in a new economic era of growth to be a leader in shaping the future of the region and the world, as well as enhancing the happiness and welfare of our people,” he said.