(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Dec 7 (KUNA) -- The Organization of Arab Petroleum Exporting Countries (OAPEC) won an award for the best oil and gas organization for 2016 for its recent participation in the World Summit for gas (INTERGAS Summit) which was held in the city of Nice, France.
OAPEC said in a press release Wednesday that its participation in the international event back in November allowed it to seize the award for a paper it submitted entitled "Reality and prospects of industry and trade of natural gas in the Arab countries." The paper reviewed the reality and the prospects for natural gas industry in the Arab countries, and pointed out that natural gas reserves in the Arab countries reached %27 at the end of 2015 of total world reserve of gas; the average production growth rates and consumption of natural gas per year over the past decade (2005-2015 ) was at %4.2 and %4.6 respectively.
The paper also touched on the importance of natural gas in global energy mix, where it has contributed to about %48 of the total primary energy consumption.
In addition, it reviewed the infrastructure for the export of natural gas both types (via pipelines and liquefied natural gas) to the world market, noting that the Arab region has half the production capacity of LNG globally.
The gas industry in the region will contribute to add about 180 billion cubic meters of natural gas annually by 2021, the paper predicted. (end) asj.nfm
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