The report “Expectations of gas and petrochemical investments in the Middle East and North Africa for the years 2020-2024” issued by the Arab Petroleum Investments Company (APICORP) yesterday revealed that the planned investments in the gas sector in the region witnessed stability in the year 2020 compared to last year, despite the sharp decline The global demand for gas, while the planned investments increased by 29% to reach $ 126 billion, as a result of the increasing trend in the region towards investment in clean energy projects.
The report indicated that the UAE has allocated about $ 22 billion to continue implementing the gas sector development plan in the country, which includes the development of unconventional / sour gas.
The report indicated that the $ 20.7 billion acquisition of a minority stake and lease rights in gas pipeline assets belonging to ADNOC by a consortium made up of several international investors may represent a model for other national oil companies in the region that have advanced infrastructure in industries. The course in order to benefit from these assets and enhance their value. Egypt ranks first in the region in terms of planned projects in the petrochemical sector.
Despite the global downturn, planned gas investments in the Middle East and North Africa region remained stable in 2020 compared to last year, while planned investments increased by 29% to reach $ 126 billion. This increase is mainly due to the high demand for gas by many countries in the region to generate clean energy.
As for the petrochemical sector in the region, there has been an increase in investments of $ 4 billion on an annual basis in the planned projects compared to last year’s expectations.
Follow the economic statement via Google News
These were the details of the news Report: The UAE allocates $ 22 billion for the economic development... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.