The Gulf is considered a gold mine for oil. And now, Bahrain- although known as one of the smallest oil-producers in the Arab world has discovered two new natural gas reserves. This comes as a result of the government’s efforts to boost natural gas production in the country.
Bahrain News Agency reported that the discoveries were made in Bahrain’s Al Juba and Al Jawf reservoirs. Soon, an announcement was made by Bahrain’s energy investment and development arm, Nogaholding. However, the report did not provide an estimate of the reserves in the two discoveries.
The chairman of Nogaholding, Sheikh Nasser bin Hamad said that the latest discoveries will pave the way for the development and production of natural gas, to be used by the Kingdom in the future.
This is not the first time Bahrain has discovered new gas sources. Earlier in 2018, Bahrain claimed to discover 20 trillion cubic feet of gas and 80 billion barrels of shale oil. The country hopes to produce these in the next five years with the help of international energy companies.
The chairman of Nogaholding, Sheikh Nasser bin Hamad said that the latest discoveries will pave the way for the development and production of natural gas, to be used by the Kingdom in the future
Apart from Bahrain, the UAE and Saudi Arabia also announced new gas discoveries earlier this year. In February, Adnoc announced the discovery of two trillion standard cubic feet of significant natural gas resources, off Abu Dhabi’s coast.
Besides, Saudi Arabia also announced the discovery of several new natural gas fields in various pockets of the country including the Empty Quarter, the northern border, and in the eastern region.
With countries globally focusing on mitigating global warming to protect the environment, the demand for gas has significantly risen in recent years.
According to a report published by Shell this February, the global trade in liquefied natural gas has gone up by 6% to 380 million tonnes, in 2021. China and South Korea led the growth in LNG demand last year.
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