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Amid growing awareness of climate change and the need to conserve resources for their expanding water and power needs, the
The region flares about 30 billion cubic metres a year of gas, the equivalent of 900,000 barrels a day of crude oil, or about $10 billion a year, says Bent Svensson, manager of the bank's Global Gas Flaring Reduction partnership. According to WWF, the conservation agency, the UAE has the highest per-capita consumption of resources. Ambitious real estate projects and the fast-growing oil-driven economy are placing a severe strain on power supplies in the UAE, which in spite of having the world's fourth-largest natural gas reserves faces a gas shortage.
Wednesday, April 09, 2008
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