The first Middle East Gas & Oil Pipelines Conference ended recently in Abu Dhabi, according to reports in Al-Hayat daily. Participants in the conference maintained that the available gas systems in the Middle East would expand significantly in the near future, enabling them to reach into neighboring regions, notably Europe, India, Pakistan and the Far East.
They also estimated that the investment costs of expanding these pipelines would reach $25 billion over the next five years.
Elsewhere in the region Exxon Mobile finalized last week two gas contracts with Saudi Arabia, securing a venture on the coast of the Red Sea. This move was facilitated by largest gas development initiative in the kingdom since its nationalization 25 years ago. —(MENA Report)
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