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Mena gas investments surge to $126b

Published : Monday, 19 October, 2020 at 12:00 AM  Count : 75

DUBAI, Oct 18: Mena gas investments enjoyed a 29 per cent leap despite current market dynamics.
Gas demand is expected to grow by approximately 3.8 to four per cent on average compared to six per cent in 2019.
Investments in the Middle East and North African region's gas sector have shown a steady surge to reach $126 billion, up 29 per cent in comparison to 2019, regardless of the current oil market crisis and the Covid-inflicted global lockdowns and economic recession, Arab Petroleum Investment Corporation (Apicorp) said.
"Contrary to overall global developments, the region's petrochemicals sector shows a year-on-year increase of $4 billion in planned projects in comparison to 2019. At the same time, total committed projects showed a decrease of $13 billion, this is largely caused by the completion of several projects in 2019," Apicorp, the investment fund of the Organisation of Arab Petroleum Exporting Countries, said in its Mena Gas & Petrochemicals Investments Outlook 2020-2024.   -Khaleej Times



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