With its year-round sunshine, extensive energy know-how and pro-industry government support and leadership, delegates attending the opening day of the MENA Industrial Gases Conference heard how the region already has many decarbonisation solutions in place.
The strong turn-out at the W Abu Dhabi – Yas Island, with 275 delegates in attendance – including a marked increase in Asian delegates on the 2022 event – reflected local and international interest in current and future business opportunities across traditional and emerging sectors such as hydrogen, ammonia, CCUS and helium.
Delivering the opening Vision 2030 presentation, and drawing on gasworld’s latest Business Intelligence, Content Director Rob Cockerill said the MENA energy industry is a $3.1bn market, dominated by the pipeline and ‘on site’ business, with the ‘big four’ – KSA, UAE, Turkey and Israel – accounting for an 80% share. The $450m North Africa market is more merchant oriented and led by Egypt, Morocco and Algeria.
Despite the region’s growth set to be ‘subdued’ this year, according to recent World Bank research, Cockerill said future growth rates were “compelling” and set to average 3.5%. KSA, in particular, is poised for a sharp bounce back in 2025, while host country UAE is projected to grow 3.3% this year, fuelled by ongoing growth in the non-oil sector.
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