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Natural gas development in the Middle East

2020.06.08   15:34

In recent years, with the increasing demand for natural gas, the Middle East has increased its exploration and production activities. According to lesta energy, an independent energy research institution in Norway, natural gas production in the Middle East will exceed 730 billion cubic meters this year, and will further increase to about 920 billion cubic meters by 2030.

It is pointed out that the increase of natural gas exploration and production activities in the Middle East is changing the market pattern and supply-demand relationship in the region.

In early February, the UAE's Abu Dhabi National Oil Company announced the discovery of 80 trillion cubic feet (2.27 trillion cubic meters) of shallow gas at the Jebel Ali gas field between Abu Dhabi and Dubai. Liam Yates, an analyst at wood Mackenzie, an industry consultancy, said: "this may be the world's largest gas discovery in nearly 15 years. The gas field can meet the total natural gas demand of the UAE for nearly 30 years. "

In fact, in recent years, new natural gas reserves have emerged in the Middle East. Last October, according to AFP, Iran's state oil company announced that it had discovered a new gas field near the Gulf, with enough reserves for the capital Tehran to use for 16 years. Reza dehghan, deputy general manager of Iran's national oil company, said at a press conference that the gas field in Fars Province, in the southwest of Iran, has about 538 billion cubic meters of proven natural gas reserves and 385 million barrels of condensate reserves.

In addition, in January this year, Sharjah national oil company of the United Arab Emirates announced that its oil and gas exploration service company and its partner Eni group have discovered new natural gas and condensate oil in Sharjah, the first discovery of new onshore natural gas in more than 30 years.

According to Reuters, as a member of OPEC and a major oil exporter, UAE is seeking to use more natural gas and other energy sources, and hopes to achieve self-sufficiency of natural gas by 2030 to ensure the safety of its energy supply. According to the data, the UAE currently consumes about 10 billion cubic feet of natural gas per day, about one third of which comes from imports.

According to the associated press, the discovery of "super large" at the beginning of this year, combined with the discovery of 58 trillion cubic feet of conventional natural gas announced by the top oil Commissioner of the United Arab Emirates at the end of this year, has made the United Arab Emirates sixth in the global natural gas reserves ranking.

Meanwhile, in January, Israel began to export natural gas from the Leviathan field to Egypt through pipelines, Reuters reported. The two sides plan to trade more than 3 trillion cubic feet of natural gas in the next 15 years. Israel also plans to export gas from its Tamar offshore field to Egypt this year.

In addition, as the world's largest crude oil exporter, Saudi Arabia is also planning to export natural gas and petrochemical products. In March last year, Saudi Arabia announced that it had discovered a large amount of natural gas reserves in the Red Sea region, but did not release specific figures.

Saudi Arabia has been increasing its natural gas exploration efforts to meet its expanding industrial base and replacing crude oil with natural gas in power generation, according to S & P global Platts. Saudi Arabia plans to generate 70% of its electricity in the future from natural gas and 30% from renewable energy. At present, the country mainly burns oil to generate electricity.

The Financial Times article pointed out that the enthusiasm for natural gas production in the Middle East is undoubtedly good news for Europe. At present, Russia is the most important natural gas supplier in the European market, and 40% of the EU's natural gas is provided by Russia. The increase of natural gas reserves and production in the Middle East will provide new sources of natural gas for Europe, which will help the latter to achieve the goal of diversification of natural gas sources.

At the beginning of this year, Israel, Greece and Cyprus signed an agreement to build a joint undersea natural gas pipeline, which will extend from the offshore gas fields of Israel and Cyprus to Greece and Italy, with a total length of about 2200 kilometers. Egypt also exports 1 billion cubic feet of natural gas a month to Europe, according to the financial times.

 

                                                                                                                                      By Shen siqi


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