GCC requires $ 150 bn investments to develop gas sector

Mar 20, 2002 01:00 AM

Some $ 100-150 bn 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 $ 8 bn over the past five years, and are expected to grow to $ 20 bn by 2007.

At a recent Dolphin Energy conference in Abu Dhabi, the same source asserted that the Gulf region holds 17 % of the world's natural gas reserves. Other speakers at the conference noted a steady growth of eight to 10 % annually in the Gulf's gas consumption markets due to population growth and improvement of socio-economic conditions.

Source: Al-Bawaba
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