Planned gas investments in Mena jump by 29%: Apicorp

SourceTrade Arabia
SectorOil & Gas

Despite a global demand shock, the Mena (Middle East and North Africa) region’s committed gas investments held steady compared to last year with planned investments increasing by 29% to reach $126 billion.    This was mainly due to the strong ongoing regional gas drive for cleaner power generation and improved monetisation as a feedstock for the industrial and petrochemicals sectors, said the Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution, which released its Mena Gas & Petrochemicals Investments Outlook 2020-2024 on the Mena region’s planned and committed investments for the period 2020 to 2024.    Notably, the petrochemicals sector witnessed a y-o-y increase of $4 billion in planned projects compared to last year’s outlook, while committed projects decreased by $13 billion due to the completion of several projects in 2019.   The share of more...