MENA Gas Investments Soar to $126 Billion In 2020

SourceAl Bawaba
SectorOil & Gas

"Contrary to overall global developments, the region's petrochemicals sector shows a year-on-year increase of $4 billion in planned projects in comparison to 2019. At the same time, total committed projects showed a decrease of $13 billion, this is largely caused by the completion of several projects in 2019," Apicorp, the investment fund of the Organisation of Arab Petroleum Exporting Countries, said in its Mena Gas & Petrochemicals Investments Outlook 2020-2024. Apicorp's optimism is based on the ongoing downstream value chain integration. While the UAE is committed to its $22 billion gas development masterplan, which includes the well-covered unconventional and sour gas projects, main gas players such as Saudi Arabia, Iraq, and Iran are still committed to their respective gas investments. Saudi Arabia and Iraq are looking mainly at gas-to-power projects, while more...