Penelope Williams with Pankaj Savara.
Top Australian oil, gas team visits UAE
Dubai, May 11, 2014
The largest oil and gas delegation from Western Australia visited the UAE to further strengthen the bilateral relations with the country.
The exports between Western Australia and UAE had risen to Dh3.4 billion ($925 million) last year. Currently 57.1 per cent of the trade between Australia and UAE is carried out with Western Australia.
Last year, a high-level business delegation headed by the UAE Minister of Economy Sultan Bin Saeed Al Mansouri had visited Western Australia to explore ways of strengthening economic and trade relations with the State.
The Western Australian branch of Amcham (American Chamber of Commerce) headed by Penelope Williams was instrumental in bringing the 36-member team to the emirates to help boost the growing bilateral trade relationship.
The delegation led by Pankaj Savara, Commissioner of Western Australian Trade Office (WATO) in Dubai later met officials of Abu Dhabi National Oil Company (Adnoc) and also ofAbu Dhabi Chamber.
"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," said Savara.
The delegates also got to meet the representatives of UAE’s oil and gas industry with a perspective to formulating a meaningful business relationship.
"The visiting team had the chance to elaborate the potential for increased business engagements, following the growing air connectivity between UAE and Western Australia," noted Savara.
By 2017, Australia is expected to produce 87 million 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, Perth, Western Australia’s capital city is the ideal host of the most prestigious triennial LNG conference the 18th ‘International Conference & Exhibition on Liquefied Natural Gas’ (LNG18).
"There has been a significant increase in trade between Australia and the UAE over the last few years. 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," stated Savara.
"We are very keen on building the relationship with UAE. Western Australia has a strong track record in implementing multibillion dollar oil and gas projects. The State dominates Australian petroleum production, accounting for 69 per cent of natural gas, including LNG feedstock, 95 per cent of oil and condensate production, and around 89 per cent of LNG exports nationally," he added.-TradeArabia News Service