Something is stirring in the Middle East and North Africa
This oil and gas-rich region is a net exporter of LNG. Last year, Qatar, the world’s largest LNG producer, shipped out more than 77 million tonnes of LNG. Algeria, Africa’s largest gas producer, exported 11.5 million tonnes of LNG.
Our latest infographic shows that the Middle East and North Africa exported nearly 103 million tonnes of LNG last year.
However, our infographic also shows how hungry the MENA region is for gas. Last year, the region imported 22.5 million tonnes of LNG.
That figure will grow.
Turkey, Kuwait and Dubai are ramping up their LNG imports. Bahrain, Morocco and Sharjah also plan to join the LNG-importers’ club.
The region is now home to seven FSRUs. Lately, the gap has narrowed between regional LNG imports and exports.
However, Middle East exports have not yet peaked. Qatar plans to ramp up its production by a third, to 100 million tonnes a year by 2024.
Iran plans to step on the gas, too. Here, however, we expect domestic demand to absorb most – if not all – of South Pars’ additional gas.
The region’s imports and exports will grow significantly, in the years to come.