Energy investments in MENA to reach $900bn

DUBAI / WAM

A new report from Arab Petroleum Investments Corporation (APICORP), owned by Organisation of Arab Petroleum Exporting Countries (OAPEC) says that the total committed and planned energy investments in the MENA region could reach US$ 900 billion over the next five years.
The report reveals that planned MENA investments in the energy sector are estimated at US$ 11 billion for the five-year period. It says that the power sector accounts for the
largest share of investments, at US$194 billion.
The report also shows the oil and gas sector will represent US$90 billion and US$149 billion respectively, with the remaining investments in petrochemicals. Also, projects under study represent by far the largest portion of planned investments, at about US$ 62 billion, according to the study.
WETEX is organised under the directives of Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and President of DEWA, at the Dubai International Convention and Exhibition Centre, from October 4-6, 2016.
WETEX 2016 will display the latest technologies in oil and gas, clean coal, renewable and clean energy, smart networks as well as energy efficiency solutions at a time when it is imperative to set up advanced infrastructure to produce, transmit and distribute renewable energy.
“The developing economies are in need of creating an advanced infrastructure and developing sustainable ways to produce renewable energy,” said Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority, Founder and Chairman of WETEX.”