Natural Gas Markets in the Middle East and North Africa

ISBN: 0199593019

Author: Fattouh, Bassam

Condition: New

The Middle East and North Africa (MENA) as a region accounts for around 40% of the world's proven gas reserves, yet only 10% of global supplies of gas are covered by MENA gas production. The potential for future expansion of the gas market in the both on the supply and demand side is significant since gas in many MENA states has become a cheap source of fuel for domestic industrialisation, a source of revenue for transit states, and a highly valued export commodity to multiple destinations in Asia and Europe. 50% of the world's liquefaction facilities under construction or planned for expansion will take place in MENA, which is likely to consolidate the region's role in the LNG market, allowing MENA producers to play the role of swing producers taking advantage of their location to supply both Atlantic and Pacific markets.This book, the first of its kind, will provide an in-depth study of the MENA states' individual gas markets, addressing the following questions: What are the policies of MENA governments regarding the development of their gas reserves? What are the main drivers of these policies? Will developments in the gas sector affect the ability of MENA governments to achieve the ultimate goal of economic diversification through developing energy intensive industries? Is the policy of promoting energy intensive industries viable in the long term? What role do foreign companies play in the development of domestic gas markets, export pipelines, and LNG export projects? Can current levels of domestic gas prices be maintained in an environment of rapid increases in gas demand and rising development costs?