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MENA Region Needs Billion-Dollar Investment to Meet Energy Needs

Levon Termendzhyan

Levon Termendzhyan has been an equity owner of Viscon USA, a clean-air company, since 2002. He also leads Viscon International, a firm that serves as the primary backer and distributor of the Viscon product. Beyond leading these businesses, Levon Termendzhyan maintains membership with the San Francisco Global Trade Council and is connected to such international-energy markets as Qatar.

The multilateral-development bank Arab Petroleum Investments Corporation (Apicorp) believes the Middle East and North Africa (MENA) region will need about $260 billion in investment to meet electricity demand in the area.
According to the corporation, population growth, rising income levels, and low electricity prices in the region has sparked the rapid growth of electricity demand and consumption. To meet this challenge, MENA’s power capacity will have to increase more than six percent each year between 2018 and 2022. In total, this will heighten energy capacity by 117 gigawatts (GW) and will require $152 billion in investment. Another $108 billion is necessary to transmit and distribute this larger amount of energy.
The Gulf Cooperation Council (GCC), a union consisting of many countries in the MENA region, will also need to expand its energy capacity by about 43GW, according to forecasts from Apicorp. This means they must invest more than $30 billion in distribution and transmission costs and over $50 billion to increase energy capacity. Qatar will need to invest $9 billion to meet the rising demand, while Kuwait will require a $15 billion investment and Iraq will need a $39 billion investment.

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