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MENAFN - 01/11/2012

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(MENAFN) The Arab Petroleum Investment Corporation (APICORP) said that between 2013-2017, energy capital investments in the Middle East and North Africa (MENA) region is forecasted to reach USD740 billion, reported The Peninsula.

Energy investments in Saudi are expected to reach USD165 billion during the 5-year period, whereas they would be at USD107 billion in the UAE.

It said that medium-term capacity growth is projected to be much higher than that of gross domestic product (GDP) growth, reaching 7.8 percent for the period against 4.5 percent for GDP.

To meet the required demand, an investment of around USD250 billion would be needed, of which 59 percent would go to new generation capacity and the rest for transmission & distribution (T&D).

It is worth noting that Iran's energy investment program is put at USD68 billion, and Iraq's at USD56 billion.

 






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