Mideast capital investment in energy to reach $470bn by 2014
Saudi Arabia, UAE and Qatar seeking to expand gas and oil plans by 2020
Researchers believe that capital investments in the Middle East within the energy sector will reach $470bn by year 2014, which is set to be predominantly spent on gas and oil projects.
Investments in gas projects will stand at 63% of the projected total,while those in oil sector will make up 47%. In addition to Egypt, Gulf countries seeking to expand gas and oil plans by 2020 include Saudi Arabia, UAE and Qatar.
Saudi Arabia is predicted to spend around $101bn on oil, gas and petrochemicals projects by 2015; UAE plans to spend over $100bn on energy projects, including $80bn alone on construction of a nuclear reactor by 2017; Qatar will spend $80bn over a decade, and Egypt is set to spend $60bn on multiple energy projects.
