The UAE plans to increase its gas import capacity and sees a fall in liquefied natural gas (LNG) prices as an incentive for many countries to diversify their gas supplies, the country’s energy minister said.

"In the future we will be increasing the amount of LNG or the capacity to import. This is to provide flexibility for power generation," Suhail bin Mohammed Al Mazroui told reporters.

"We have seen a significant drop in the LNG gas prices ... All of these things are encouraging many countries to consider LNG as part of their diversified gas sources."