(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Aug 11 (KUNA) -- Secretary General of the Arab Energy Organization (AEO) Jamal Al-Loughani has affirmed that underground storage of natural gas is a strategic option considering its economic feasibility and positive ecological impact.
Al-Loughani noted that injection of the natural gas into underground strata such as depleted gas fields, salt caverns or deepwater reservoirs is an option at times of dwindling demand.
This process has also become a backup for energy transformation, integration of renewable energy resources and a contributor to attaining a sustainable energy system.
Mounting international demand for natural gas has led to rising interest in investing in underground storage as the process is helpful for balancing supply and demand, Al-Loughani said in a statement to KUNA marking release of a study themed, "Underground gas storage and its role in achieving energy security."
These underground cavities have expanded to 15.44 trillion cubic feet in 2023 compared to 11.1 trillion cubic feet in 2000, a 38 percent increase, he said, backing up his statement.
Investment in the underground gas storage in the Arab states has become a strategic necessity for ensuring continuous supplies, coping with energy crises, backing up energy transformation and integration with hydrogen, said Al-Loughani, the Secretary General of the Arab Energy Organization, formerly known as the Organization of Arab Petroleum Exporting Countries (OAPEC).
He indicated that a number of Arab countries have the potential to invest heavily in this sector due to existence of depleted gas fields, abundant gas resources and available infrastructure close to the demand region.
He proposed studying and developing the infrastructure in the Arab countries, updating relevant legislations, stimulating investments, trimming funding risks, establishing partnerships with international companies and swapping know-how at the Arab level. (end)
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