Dubai: The largest Oil and Gas delegation from Western Australia had brought a 36 member delegation to the UAE to further strengthen the growing trade relationship with that country. The delegation was led by Pankaj Savara, Commissioner of Western Australian Trade Office (WATO) in Dubai. The delegation met with Abu Dhabi National Oil Company (Adnoc) and Abu Dhabi Chamber during their visit.
“The meetings held in Abu Dhabi provided the delegation with an opportunity to share Western Australia’s capacity in terms of both the supply and services, and the potential investment opportunities in Western Australia’s LNG sector. The delegates had the opportunity to meet the representatives of UAE’s oil and gas industry with a perspective to formulating a meaningful business relationship. The delegates also had the chance to elaborate the potential for increased business engagements, following the growing air connectivity between UAE and Western Australia,” said Pankaj Savara, Commissioner, WATO Dubai.
By 2017 Australia is expected to produce 87 Metric tons of LNG, ranking it above Qatar as the world’s leading LNG (Liquefied natural gas) exporter. With two thirds of its reserves located in three basins off the Western Australian coast,
The trade between Western Australia and UAE were to the tune of Dh3.4 billion in 2013. Currently 57.1 per cent of the trade between Australia and UAE is carried out with Western Australia.
“There has been a significant increase in trade between Australia and the UAE over the last few years,” Savara said. “Australia has been a popular destination for UAE nationals along with the fact that there has been a steady rise in investments from the UAE over the last few years.