UAE mulls natural gas imports from North America
The UAE, a Gulf OPEC oil producer, said it was looking at the possibility of importing natural gas from North America, in what would be one of the most striking developments since the start of the US shale boom.
The United States and Canada are producing record amounts of gas from shale rock formations, pulling down North American prices to levels that have attracted the interest of foreign buyers.
Around a dozen long-term deals, each worth billions of dollars, have recently been signed behind closed doors between US producers and buyers in China, Japan, Taiwan, Spain, France and Chile as global demand for gas increases.
"We may follow the same trend of considering investments in the United States and Canada to bring some of that gas back home," UAE Oil Minister Suhail bin Mohammed al-Mazroui said on Monday at an energy conference in London....MORE
