Gas shortage
Rising oil prices is forcing Gulf states to invest in gas production. Some analysts estimate that the cumulative supply shortfall for the six countries of the Gulf Co-operation Council up to 2015 will reach at least 7,000bn cubic feet. To put the number into perspective, according to BP the UK's entire remaining proven gas reserves total just under 17,000bn cu ft. "There is a Middle East regional gas crisis brewing," says Rajnish Goswami at Wood Mackenzie, the Edinburgh-based energy consultancy.
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