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          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

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            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Middle East to record fastest gas consumption in 20 years

              The Saudi Gazette

              November 14, 2013
              in Oil & Gas
              0

              Natural gas is likely to grow in importance over the next few years, with the Middle East, China, Africa and India in particular set to record significant increases in demand.

              According to EY's recently released Business Pulse Oil and Gas report, demand for natural gas is expected to increase steadily as a percentage of the global fuel mix over the next two decades, and is estimated to account for almost a quarter of the world's energy demand by 2035.
               
              Commenting on the findings, Dr. Thorsten Ploss, EY's Middle East and North Africa Oil & Gas Leader, said: "Natural gas is seen as a potentially cleaner replacement for coal and also as a ready replacement for nuclear power in countries which have phased out nuclear power due to public concerns. Countries needing to increase power capacity quickly are particularly likely to turn to natural gas, as the construction time for natural gas generating plants is just two to three years. The foundations for a world in which gas will play an increasingly important role could be laid soon if governments can put the necessary regulatory conditions in place."

              Oil majors are going to find accessing oil reserves progressively more difficult, so their reserves and production are likely to shift further toward gas. On the other hand, many NOCs still have access to large oil reserves, hence the pressure to shift towards gas is lower. With gas likely to constitute a greater share of the world's future energy production, this opportunity will continue to rise in importance in the years ahead.

              "The abundance of gas and the commensurate interest from non-OECD countries to exploit these resources has resulted in many companies developing significant Liquid Natural Gas (LNG) portfolios. Learning to operate in LNG is, therefore, essential for companies wanting to thrive in this area and expand the market opportunities for their gas. Over the next few years, natural gas will rise up the list of priorities for companies," said Dr. Ploss.

              As highlighted by the report, increasing emerging market demand is one of the top 10 opportunities in the MENA oil & gas sector. Continued growth of the world's emerging economies, which include countries in the Middle East, will drive energy demand and increase the opportunities for oil and gas companies to expand in these markets.

              The strength of rapid growth markets (RGMs), even amid the backdrop of the recent global economic downturn, has provided ample reward for those able to thrive in this environment.

              The continued rise of the population and the increasing demographic urbanization in RGMs will be significant drivers for a sustained increase in energy demand, especially when compared with the anemic economic growth in OECD markets. Much of the projected growth in energy generation and consumption in RGMs will come from fossil fuels- especially natural gas- despite the increasing attractiveness of renewable energy.
              Dr. Ploss added: "With the continued economic expansion of the world's RGMs, energy demand will also rise rapidly. This increase in demand, coupled with increased access and availability of natural gas resources, means natural gas is expected to play a fundamental role in energy demand by 2015 if governments and regulators can build the appropriate regulatory and legislative environments."

              "The opportunity for RGMs has never been greater in the oil & gas sector. The need to have a clear view of the risks and opportunities across the oil and gas sector is critical to future success," Ploss added.
              The Saudi Gazette
              14 October

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