The Middle East and Africa (MEA) has left the summer peak gas demand season, but the region’s appetite for the fuel will remain healthy this year and next.
Gas demand by key regional consumers – the Gulf Cooperation Council (GCC) members, Iran, Egypt, Turkey, Algeria, Nigeria, Yemen and Libya – increased by 4.6% on an annual basis in H1 2016, to 340.5 billion cubic metres. GGA expects demand to rise by 4.2% year on year in 2016 as a whole, to 650 bcm, with a further increase of 3.5% expected in 2017. The region’s gas demand is expected to outstrip its marketed production this year and next, which means the MEA will remain dependent on imported gas and LNG.
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