MENA gas investments surge to $126bln

SectorOil & Gas

Investments in the Middle East and North African region's gas sector have shown a steady surge to reach $126 billion, up 29 per cent in comparison to 2019, regardless of the current oil market crisis and the Covid-inflicted global lockdowns and economic recession, Arab Petroleum Investment Corporation (Apicorp) said."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 more...