Report: The UAE allocates $ 22 billion for the economic development...

Report: The UAE allocates $ 22 billion for the economic development...
Report: The UAE allocates $ 22 billion for the economic development...

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.


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