Commodity Market Report

Middle East and East-Med gas long-term outlook H1 2020

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22 September 2020

Middle East and East-Med gas long-term outlook H1 2020

Report summary

Over the last decade, natural gas has become the fuel of choice to meet a soaring domestic demand in the Middle East. However, strong disparities have emerged from unequal gas resource distribution, while geopolitics have limited cooperation on gas infrastructure and trade. Rapid growth of domestic demand has also created distortions – with subsidies supporting inefficient and over-use of gas and electricity. But new gas production is becoming more technically challenging. Pricing reforms are slowly becoming a reality and diversification is progressing. How will this impact the outlook for gas in the region? The gas landscape in the East-Mediterranean region will also change profoundly over the next years. Regional trade will enhance cooperation between countries and ultimately lead to gas surplus. LNG imports, which have been critical to filling the gap, are set to disappear. In turn, LNG exports are becoming a reality again, but challenges remain to achieve maximum utilisation.

Table of contents

    • The region is awash with gas, but overall demand growth has slowed
    • Investment and fuel switching will spur growth in the medium-term
    • Diversification in power threatening long-term gas demand
    • The Middle East is a major gas demand centre
    • Available gas supply will sustain demand and exports through the forecast
    • A more efficient usage of gas ahead
    • The region offers premium conditions for renewable energy
  • East-Med
    • Qatar production will almost double by 2040
    • A stable operating environment has attracted many international investors to Oman, but the medium-term gas balance remains at risk
    • Saudi Arabia is a major player in the global oil market, but all its gas is consumed domestically
    • Internal inefficiencies hamper Iran’s energy sector
    • UAE’s investments in unconventional and sour gas resources
    • East-Med
    • Middle East
    • East-Med
    • Middle East
    • East-Med
    • Middle East

Tables and charts

This report includes 11 images and tables including:

  • East-Med gas demand
  • East-Med gas demand by sector
  • Middle East gas demand
  • Middle East gas demand by sector
  • East-Med gas production
  • East-Med gas production by status
  • Middle East gas production
  • Middle East gas production by status
  • East-Med net trade (pipe and LNG)
  • Middle East net trade (pipe and LNG)
  • Overview of gas pricing in Middle East and East-Med

What's included

This report contains:

  • Document

    Middle East and East-Med gas long-term outlook H1 2020

    PDF 877.67 KB

  • Document

    Middle East and East-Med gas market.xls

    XLS 1.31 MB