Saudi Gazette - GCC countries to face gas shortage by 2015

Saudi Gazette - GCC countries to face gas shortage by 2015:

"Gas shortage in the GCC “will become more acute” – despite forecasts for slower economic growth due to the recession, as well as current investments in exploration and production intended to increase supply, global consultancy firm Booz & Company said in a recent report titled “Gas Shortage in the GCC – How to Bridge the Gap”. The gas shortage will unfold according to either of the following scenarios – an enduring recession or the regional economies’ return to pre-recession growth levels.

If recession persists through 2015 or beyond in the GCC, then shortage will ensue, as this scenario assumes that the recessionary environment in the GCC economies go beyond 2015. 

In second scenario, if gas demand growth returns to 2008 levels, prior to the recession, then the International Monetary Fund (IMF) predicts that the GCC economies, after a contraction in 2009, should revert to pre-recession growth rates by 2012 with only a marginal decline. This implies that gas demand could return to 2008 growth rates by 2012."

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