Special to WorldTribune.com

ABU DHABI — The Gulf Cooperation Council is expected to award
natural gas exploration and development deals that total $68 billion.

The Western consultant, Deloitte, issued a report that the six GCC
states were moving to develop gas resources to preserve crude oil assets.

Deloitte said Qatar, Saudi Arabia and the United Arab Emirates would lead
the GCC in spending more than $68 billion over the next five years to
increase gas output.

“Although the share of demand for oil and gas is set to rise, it is
important to note that alternative energy sources such as nuclear, wind,
solar and biofuel will also take on an increasingly significant role in
meeting the world’s energy needs in the future,” the report, titled “‘Middle
East Energy and Resources: Managing scarcity for the future,” said.

The report said demand for gas would overtake oil after 2025. But
Deloitte warned that this could be hampered by a significant shortage of
skilled labor in the Gulf.

  anticipating increasing demand, Deloitte, Guf Cooperation Council, Gulf states invest in natural gas resources