Amid shifting global gas supply, Gulf states emerge as their own best market
In depth
Issue 1019
- 15 Jul 2016
| 7 minute read
The development of export-oriented liquefied natural gas (LNG) industries in the late 1990s/2000s proved a spectacular success for previously struggling economies such as Oman and, to an even greater extent, Qatar, which emerged with one of the world’s highest levels of per capita gross domestic product (GDP) on the back of Qatargas and Rasgas revenues. Other Middle East and North Africa (Mena) producers – including the now shut-in Yemen LNG scheme and Iran’s potentially huge but under-performing industry – also aspired to jump on the bandwagon and export into a global market where supply was struggling to keep pace with rising demand.
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