APICORP Predicts Natural Gas Projects Rise in MENA

APICORP Predicts Natural Gas Projects Rise in MENA

The Arab Petroleum Investments Corporation (APICORP) has predicted that investments in natural gas projects are set to see a rise in the Middle East and North Africa (MENA) region despite a dampening of fuel, according to Bloomberg.

According to the multinational development financial institution, gas projects planned or under development in the region will require around $211 billion worth of investments between 2020 and 2024. This is up from APICORP’s previous estimate of $185 billion between 2019 and 2023.

Not surprisingly, the world’s largest gas exporter, Qatar, is expected to account for the largest proportion of this with $22 billion of planned investment.

This is a general trend throughout the region with countries starting to transition towards less carbon-intensive ways to produce electricity. Subsequently, there is a wave of new gas projects while cutting oil-related investments.

State-run companies and entities account for as much as 92% of investments in the region’s gas projects.


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