(MENAFN) The Arab Petroleum Investment Corp (Apicorp) announced that nearly 88 trillion cubic meters (tcm) of proven natural gas deposits are located in the Middle East and North Africa (MENA) region, reported Emirates 24/7.
Apicorp, a subsidiary of the Organization of Arab petroleum Exporting Countries (OAPEC), said that at current output growth rate of 6.9 percent per year, these deposits could last for 33 years.
It added that the amount represents around 42 percent of the world's total gas wealth, with the bulk based in the UAE, Iran, Qatar, Saudi and Algeria.
On the other hand, the undiscoverable gas deposits are estimated at 26.6 tcm.
At the start of the current year, Iran had nearly 33.1 tcm of recoverable gas deposits, whereas the amount stood at 25 tcm in Qatar, 8.2 tcm in Saudi, 6.1 tcm in the UAE, 4.5 tcm in Algeria, 3.6 tcm in Iraq, 2.2 tcm in Egypt, 1.8 tcm in Kuwait, 1.5 tcm in Libya and almost 0.9 tcm in Oman.
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