In the GCC’s oil and gas industry, past developments have focused more on enhancing the oil sector as opposed to the gas sector.
However, with recent reports on the demand for gas both globally and domestically on the rise, as well as unconventional gas competition from the US, the GCC needs to invest significantly to capitalise on this important and profitable industry.
The IEA reported that the current 100bn cu. m. (cubic meters) annual demand for gas in the GCC is expected to rise more than 300bn cu. m. in 2020 and up to 600bn cu m by 2030.
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