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With the growth of electricity demand and increased investment in natural gas, petrochemicals and renewable energy in the regional economy, countries in the Middle East and North Africa (MENA) region will commit and plan to invest a total of $1 trillion
in the energy sector over the next five years.
This is the gist of a new study by the multilateral development bank Arab Petroleum Investment Company (APICORP), which has just published the "MENA Annual Energy Investment Outlook 2019"
for the period 2019-2023.
Energy investment in the MENA region is expected to reach nearly $1 trillion in 2019-2023, up 5% from APICORP's investment outlook last year, as these countries' energy sectors shift downstream to natural gas, petrochemicals, and, importantly, renewable energy
.
Of the $1 trillion, planned investments account for the majority, about $613 billion, while fundraising from other projects accounts for the rest
, according to the bank.
Of all investments in 2023, about $348 billion will go to the power sector, the largest share of investment, about 36%; This is followed by the oil sector, with upstream, midstream and refining investments of $304 billion, of which $138 billion is committed investments
.
Investment in the gas sector in the MENA region will reach $186 billion, of which $87 billion is committed
.
Investment in the petrochemical industry will exceed $123 billion, of which $33 billion in projects are underway
.
Unsurprisingly, Saudi Arabia's largest market for planned and committed investments in the energy sector between 2019 and 2023 is about $148 billion, of which $37 billion is committed and $111 billion is planned investments
.
OUTSIDE THE GULF COOPERATION COUNCIL (GCC), IRAQ IS FOCUSED ON REBUILDING ITS ENERGY INFRASTRUCTURE, WHILE EGYPTIA IS EXPECTED TO PRIORITIZE INVESTMENT IN THE UPSTREAM GAS AND POWER SECTORS TO MEET GROWING DEMAND
, APICORP SAID.
The GCC, which includes Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman, has seen a decline in the size of planned and committed projects as mega projects have come online
.
With the growth of electricity demand and increased investment in natural gas, petrochemicals and renewable energy in the regional economy, countries in the Middle East and North Africa (MENA) region will commit and plan to invest a total of $1 trillion
in the energy sector over the next five years.
This is the gist of a new study by the multilateral development bank Arab Petroleum Investment Company (APICORP), which has just published the "MENA Annual Energy Investment Outlook 2019"
for the period 2019-2023.
Energy investment in the MENA region is expected to reach nearly $1 trillion in 2019-2023, up 5% from APICORP's investment outlook last year, as these countries' energy sectors shift downstream to natural gas, petrochemicals, and, importantly, renewable energy
.
Of the $1 trillion, planned investments account for the majority, about $613 billion, while fundraising from other projects accounts for the rest
, according to the bank.
Of all investments in 2023, about $348 billion will go to the power sector, the largest share of investment, about 36%; This is followed by the oil sector, with upstream, midstream and refining investments of $304 billion, of which $138 billion is committed investments
.
Investment in the gas sector in the MENA region will reach $186 billion, of which $87 billion is committed
.
Investment in the petrochemical industry will exceed $123 billion, of which $33 billion in projects are underway
.
Unsurprisingly, Saudi Arabia's largest market for planned and committed investments in the energy sector between 2019 and 2023 is about $148 billion, of which $37 billion is committed and $111 billion is planned investments
.
OUTSIDE THE GULF COOPERATION COUNCIL (GCC), IRAQ IS FOCUSED ON REBUILDING ITS ENERGY INFRASTRUCTURE, WHILE EGYPTIA IS EXPECTED TO PRIORITIZE INVESTMENT IN THE UPSTREAM GAS AND POWER SECTORS TO MEET GROWING DEMAND
, APICORP SAID.
The GCC, which includes Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman, has seen a decline in the size of planned and committed projects as mega projects have come online
.
