FU­EL­ING MENA GAS DE­MAND

Qatar Today - - BUSINESS > OIL & GAS -

With lead­ing global LNG de­mand growth in 2016, the MENA re­gion is fore­cast to be­come the world's se­cond-largest gasim­port­ing area by 2040. And Qatar will be meet­ing most of its needs.

Qatar alone sup­plies 40% of con­sumer coun­tries' im­ports from the re­gion and is be­ing seen as the po­ten­tial sup­plier to meet­ing the fast-grow­ing ap­petite for nat­u­ral gas here. De­spite the re­gion's dom­i­nant role in terms of hy­dro­car­bon re­serves, the con­sump­tion of nat­u­ral gas in the Mid­dle East will rise from 480 bil­lion cu­bic me­tres ( bcm) in 2015 to 738 bcm in 2040, noted a lat­est re­search re­port by Arab Pe­tro­leum In­vest­ments Cor­po­ra­tion, cit­ing In­ter­na­tional En­ergy Agency data. And coun­tries in the re­gion are to in­vest around $10.3 bil­lion in LNGim­port­ing fa­cil­i­ties over the medium term to cater for grow­ing de­mand. As well as Dubai and Kuwait, Bahrain and Abu Dhabi are now plan­ning to be­gin LNG im­ports, while there have even been re­ports that Saudi Ara­bia could con­sider im­port­ing LNG in the fu­ture.

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