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.