Some $100-150 billion worth of investments would be required over the course of the coming decade to develop gas projects in the Gulf Cooperation Council (GCC) region, the United Arab Emirates’ (UAE) official WAM agency quoted a an industry source as saying. Investments in Qatar’s energy sector reached eight billion dollars over the past five years, and are expected to grow to $20 billion by 2007.
At a recent Dolphin Energy conference in Abu Dhabi, the same source asserted that the Gulf region holds 17 percent of the world’s natural gas reserves. Other speakers at the conference noted a steady growth of eight to 10 percent annually in the Gulf’s gas consumption markets due to population growth and improvement of socioeconomic conditions. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
