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UAE is committed to maintaining stability in world oil market: Gargash

posted on 21/02/2012: 1946 views



The UAE is committed to maintaining stability in world oil markets, Dr Anwar Mohammed Gargash, Minister of State for Foreign Affairs, affirmed today, but adding that this goal would only be possible through stable trade policies and partnerships and balanced demand and supply equation.

'Such stability is also achieved through more investment in this sector so as to create a long-term equilibrium,' Dr. Gargash was quoted by Qatar News Agency as speaking at the Symposium on Energy Summit Brookings Doha Centre. The minister said outlined the UAE role - as one of the world's major crude oil exporters - in boost efforts towards international oil market stability. He stressed the importance of cooperation between the UAE and its partners to keep the market stable.

He said the UAE adopted a strategy to diversify its energy mix and motivated by shortage of gas and other sources of energy, it has founded the Emirates Nuclear Energy Corporation (ENEC) to meet growing demand for energy through use of nuclear energy for peaceful uses.

He also emphasised on the political cooperation so as turmoil and conflicts in some countries of the region be settled and called for international coordination to address dangers these country are facing. - Emirates News Agency, WAM

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