A recent report called, ‘Gas shortage in the GCC – How to Bridge the Gap’, by global consultancy firm, Booz & Company, says gas shortage in the six resource-rich Gulf Cooperation Council (GCC) countries will become more evident 2015 as demand is on the rise and supply struggles to keep pace. Increasing power consumption, depleting oil fields, gas exploration and long-term gas export commitments have limited the local supply of gas in the region, the report says.
Through measures like raising local gas prices gradually, improving energy efficiency and investing in alternative methods to overcome the shortage the oil rich countries can address the supply-demand imbalance, the report said.
The GCC, a political and economic union of Arab states bordering the Persian Gulf, has Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates as its members.
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