Dana Gas joins World Economic Forum Community of Global Growth Companies

The company received a warm welcome as a new member of the World Economic Forum's Community of Global Growth Companies, which recognizes dynamic companies with a proven track record of success and demonstrated potential to attain global leadership in the next five to ten years.

Nearly 200 premier companies from all the regions of the world are members of the community, characterized by a demonstrated annual growth rate of no less than 15% over two years; a demonstrated intent and potential to build a global business; top industry ranking with a turnover of $100m to $5bn; solid projected growth potential; a leading role in shaping the future of their industry or region; and a healthy, solid reputation.

The World Economic Forum is an independent international membership organization integrating leaders from business, government and academia into a partnership committed to improving the state of the world. The annual three day World Economic Forum on the Middle East was held this year in Sharm El Sheikh, Egypt, from 18 - 20 May, and was attended by heads of state and government, and business and policy leaders from across the Middle East, who met to address the leading economic developments and challenges facing the region.

"Dana Gas is honoured to be designated a member of the Community of Global Growth Companies, an important initiative of the World Economic Forum's for recognising and enhancing the network of leading private-sector companies worldwide. This recognition by the World Economic Forum is a testament to the accomplishments of Dana Gas over the past two years as a company from the region, by the region and for the region,"

said Mr Hamid Jafar, Executive Chairman of Dana Gas, speaking from the World Economic Forum on the Middle East Summit in Sharm El Sheikh.

He added: "The mission of Dana Gas to provide clean energy for our region's tomorrow is very much aligned with the wider goals of the World Economic Forum, which is committed to improving the state of the world, and we are proud to support its efforts as a responsible global corporate citizen."

The World Economic Forum's Community of Global Growth Companies (GGCs) was created to recognize the next generation of industry leaders. It supports them as they navigate the challenges of new geographies, markets, cultures and regulatory systems as they become a major driving force in social and economic development.

These GGCs benefit from a programme of structured content, delivered by Strategic Partners of the Forum, as well as informal, peer-to-peer exchanges of experiences and best practices. Members of this Community have opportunities to come together at all Forum regional meetings as well as at the Annual Meeting of the 'New Champions'. The Inaugural Annual Meeting of the New Champions took place in Dalian, People's Republic of China, from 6-8 September 2007.

Established in late 2005, Dana Gas has already achieved important assets and projects in the upstream, midstream and downstream sectors of the growing natural gas industries of the UAE, Egypt and Iraq, and is also developing a network of industrial 'Gas Cities' across the Middle East Region. In addition the Company is developing new projects and evaluating further acquisition opportunities, specifically in the Gulf Region and in North Africa.