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The MENA region has committed $345 billion in ongoing key energy projects, and is expected to invest another $574 billion in development over the next five years, bringing the total committed and planned investment to $91.
9 billion to meet growing energy demand
.
Apicorp Research, a major energy research institution in the Arab region, said in a report that the power sector accounts for about $187 billion in the $574 billion investment plan, oil and gas account for $169 billion and $150 billion respectively, and the rest of the investment is mainly in petrochemical projects
.
According to the report, the GCC is promoting investment in key energy projects in the region, especially in Saudi Arabia and the United Arab Emirates
.
The two countries plan to increase investment in upstream energy companies to drive market development
.
Over a five-year period, committed investments in energy projects currently under implementation are estimated at $345 billion
.
The oil sector accounted for the largest share of investment, reaching $131 billion, most of which was in upstream projects
.
The MENA region has total committed investments in gas and electricity of about $106 billion and $95 billion, respectively, followed by chemicals at $14 billion
.
The GCC has committed $171 billion in investment, or about 50 percent
of the regional total.
The MENA region has committed $345 billion in ongoing key energy projects, and is expected to invest another $574 billion in development over the next five years, bringing the total committed and planned investment to $91.
9 billion to meet growing energy demand
.
Apicorp Research, a major energy research institution in the Arab region, said in a report that the power sector accounts for about $187 billion in the $574 billion investment plan, oil and gas account for $169 billion and $150 billion respectively, and the rest of the investment is mainly in petrochemical projects
.
According to the report, the GCC is promoting investment in key energy projects in the region, especially in Saudi Arabia and the United Arab Emirates
.
The two countries plan to increase investment in upstream energy companies to drive market development
.
Over a five-year period, committed investments in energy projects currently under implementation are estimated at $345 billion
.
The oil sector accounted for the largest share of investment, reaching $131 billion, most of which was in upstream projects
.
The MENA region has total committed investments in gas and electricity of about $106 billion and $95 billion, respectively, followed by chemicals at $14 billion
.
The GCC has committed $171 billion in investment, or about 50 percent
of the regional total.
