Wednesday, 5 May, 2021 - 10:15
MENA can emerge as a major blue and green hydrogen-exporting region thanks to low-cost gas resources and strong renewable energy progress, said APICORP. (Asharq Al-Awsat)
Dubai - Asharq Al-Awsat
The Arab Petroleum Investments Corporation (APICORP) estimates the overall planned and committed investments in the Middle East and North Africa (MENA) region to exceed $805 billion over the next five years, a $13 billion increase from its 2020 five-year outlook.
In its MENA Energy Investment Outlook 2021-2025, APICORP attributed this modest rise to four factors, namely the strong confidence in the rebound of global GDP, rising energy demand, the comeback of Libyan projects – which alone account for around $10 billion in planned projects – and the accelerated pace of renewables in the region.