MENA will push through critical energy projects, despite uncertainties that cloud the investment outlook for the region. Fully $289bn has already been committed to projects under execution while an additional $611bn worth of development is planned. Leading the drive will be Saudi Arabia, which along with the UAE and Kuwait will invest across the energy value chain. Iraq and Iran will play catch-up and are determined to push their ambitious oil and gas plans, but will face many above-ground challenges. In North Africa, Algeria has vowed to pump billions into its upstream sector. Much is also expected in Egypt as recent gas finds promise to meet rapidly rising power demand. Renewable-energy projects will be at the forefront of efforts to meet rising power demand in Morocco, Tunisia and Jordan. But there will be many challenges as low oil prices, the uncertain economic outlook, regional instability and conflicts weigh on planned investments.
Apicorp Energy Research, Vol 6 (1)