New opportunities in gas production to define future of Middle East energy giants
To:
Al-Monitor Pro Members
From:
Dr. Karen E. Young
Senior Fellow, Director of the Program on Economics & Energy, Middle East Institute
Date:
June 30, 2022
Bottom line:
While there will continue to be a market for oil and associated petrochemical products for some time to come, the short- and medium-term opportunities in gas production will be transformational for some MENA states. For some, like Egypt and Israel, this is as a new net hydrocarbon exporter. And for others like Qatar, and neighbors UAE and Saudi Arabia, gas will be a source of longevity for resource-based income streams. The difference for the UAE is that domestic production will be combined with external investments and partnerships, creating new gas energy giants.