Mena countries plan $250bn power spend
Manama, January 13, 2013
The Middle East and North African (Mena) countries are expected to pump nearly $250 billion into power projects over the next five years to expand generation capacity and meet the growing domestic demand, a report said.
The projects will be one of the main topics of discussion at the 11th Power-Gen Middle East conference which will be held in Doha from February 4 to 6, said the report published in our sister newspaper, the Gulf Daily News.
Scores of officials and experts from the Gulf and other countries will attend the annual event.
Organisers said nearly 200 power projects are on the agenda of the February 4 to 6 conference which will also discuss new technologies and other power-related issues.
"Significant energy-related projects as part of the 200 planned and announced ventures valued between $100 million and $20 billion will be major points of discussion at Power-Gen in Doha," said the British PennWell Corporation, which is organising the event.
"A total of $250 billion is expected to be pumped into the power sector in the Mena region over the next five years to meet regional electricity demand growth."
The GCC, which control 40 per cent of the world's recoverable oil resources, will add nearly half the expected additional power generation capacity in the region, said a study by the Dammam-based Arab Petroleum Investment Corporation (Apicorp).
It estimated the total capital in power generation in Mena at $147.5 billion during 2013-2017 to add about 123.9 GW of electricity while the rest could cover water projects.
In a separate study, Apicorp said the GCC is projected to record the highest power demand growth of around 8.5 per cent in the region in the medium term.
It put growth at 7.6 per cent in Mashreq - Egypt, Iraq, Jordan, Lebanon and Syria - 7.2 per cent in other Arab states, 7 per cent cent in Iran and 6.5 per cent in Maghreb covering Algeria, Libya, Mauritania, Morocco and Tunisia. – TradeArabia News Service