Letter from the Middle East: Gas faces headwinds
The received wisdom that gas would be the region’s main growth fuel for generation is being challenged
The Middle East’s hydrocarbon-rich countries would build out gas-fired power plants to free up more oil for export. Those less endowed with energy reserves would construct LNG import terminals to facilitate their own ‘dash for gas’. That was the rosy picture for the region’s gas demand growth. But that picture has clouded as Gulf states embrace other generation options. At the start of August, the Barakah nuclear plant in the western UAE began to split atoms—the culmination of a decade-long journey towards the Arab world’s first nuclear power generation. Aside from nuclear, solar, wind, coal and even hydrogen pose new challenges to gas in a region where hydrocarbons have traditionally reigne
Also in this section
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy