RIYADH: Energy investments across the Middle East and North Africa (MENA) will exceed $805 billion over the next five years, said the Arab Petroleum Investments Corporation (APICORP). The growth is expected to be driven by a rebound in the global economy, rising energy demand and the return of Libyan energy projects, it said. Committed gas investments in MENA for the period 2021-2025 are expected to total $75 billion – $9.5 billion less than the previous outlook. Planned investments in the MENA petrochemicals sector are forecast to increase to $109 billion in 2021-2025, a $14.2 billion jump compared to last year’s outlook. MENA is also a strong candidate for becoming a major hydrogen-exporting region thanks to its combination of low-cost gas resources and renewable energy, said APICROOP.

Source: The North Africa Journal May 05, 2021 15:33 UTC