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Competition for water will make it more valuable than oil, says Suez chief

Water will become more valuable than oil as rising demand from people, industries and agriculture puts pressure on supplies, according to the chief executive of Suez, the French utility.

Jean-Louis Chaussade, whose company agreed this month to buy General Electric’s water unit for $3.4bn, said water scarcity posed one of the biggest challenges facing industries such as chemicals, drugs, mining and energy.

Asked whether water would one day be a more valuable commodity than oil, Mr Chaussade told the Financial Times: “In future, probably yes.”

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