The Arab Petroleum Investments Corporation’s (APICORP) latest Middle East and North Africa (MENA) energy investment outlook sees a modest $13 billion rise in committed and planned energy investment compared to previous year’s outlook.

However, the region looks to exceed over $800 billion in investments into its energy sector over the next five years. The outlook forecasts MENA emerging as a major blue and green hydrogen-exporting region thanks to low-cost gas resources and strong renewable energy progress.

Renewables claim a significant share of almost 40% the estimated $250 billion in power sector investments, committed gas investments projected to fall by $9.5 billion to $75 billion after completion of several megaprojects in 2020.

An evolution in regulations is needed for the MENA region to realise its energy storage potential; Additional capacity – particularly from renewables – will make power trading a more commercially viable option in MENA; MENA can emerge as a major blue and green hydrogen-exporting region thanks to low-cost gas resources and strong renewable energy progress.

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Source: EsiAfrica