Mubasher: APICORP Energy Research expected a rise in the Middle East region production of natural gas by 10% to reach 756 billion cubic metres per annum (bcma) by 2021.
The region holds 47% of the natural gas reserves in the world, which are mainly concentrated in Iran and Qatar, according to the report released on Tuesday.
The report also noted that the corporation expected the natural gas exports from MENA to fall by about 50 billion cubic metres by 2025.
“Liquefied natural gas (LNG) export volumes in countries such as Oman, the UAE, Egypt and Yemen have been declining or have stopped altogether and the region’s LNG imports have correspondingly risen to meet domestic demand,” the report said.
Despite the huge gas reserves, the Middle East’s supplies are decreasing which gave an opportunity for other sources to export gas.
