FUELING MENA GAS DEMAND
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.