GCC to Adopt Modernisation Strategy in Gas Sector

While GCC states are in the midst of an impressive economic transformation their economies still depend heavily on the oil and gas sectors.

Developments during 2009 served as a reminder of this, Oil and Gas Affairs Minister and National Oil and Gas Authority (Noga) chairman, Abdulhussain Mirza told delegates at the opening session of the Nitrogen and Syngas International Conference and exhibition at the Gulf Hotel.

"It is important that countries in the region adopt an integrated strategy for the development and modernization of the oil and gas sector," he said.

"They can do this by making use of the latest technologies, whether in the process of exploration, production, refining or export and marketing of oil, gas and finished products.

"Although Bahrain is the smallest country in the region, it has always played a pioneering role, starting from oil exploration and later refining, then becoming a premier offshore financial hub in the world.

"As the economy of Bahrain grows, its reliance on natural gas has also grown," he said.

"Today, gas is the most valuable commodity in the kingdom and is the life support system for all local industries, feeding many customers with their required energy needs to feed their plants.

"I would once again like to reiterate Noga's commitment to all our important industries operating in the kingdom.

"This conference comes at a time when the global economic situation and market fundamentals are slowly but steadily moving towards the recovery phase.

"This year's conference provides an ideal platform to discuss and deliberate on the latest knowledge and technologies, share and learn from each others' experiences and ensure that we carry out our business in the most cost effective, efficient and, most importantly, safe and environmentally friendly manner. - Gulf Daily