Middle East gas spend forecast to rise despite price woes

SourceArabian Business
SectorOil & Gas
CountryGCC

New research says gas projects planned or under development in the region will require around $211 billion in investment to 2024 Investment in natural gas projects across the Middle East and North Africa will rise, even as the coronavirus pandemic damps demand for the fuel, according to Arab Petroleum Investments Corp. Gas projects planned or under development in the region will require around $211 billion in investment between 2020 and 2024, the multilateral lender said Monday in a statement. Condensates-rich gas has started flowing from the Hadabat Al-Hajara field at an average rate of 16 million standard cubic feet a day In its previous investment outlook, Apicorp estimated that spending would total $185 billion between 2019 and 2023. Middle Eastern states are lining up new gas projects while cutting oil-related investments, though the pandemic has ...read more...