The Middle East’s natural gas sector requires $200b of investment in the next four years to increase production by 30% to meet rapidly growing demand for power, industry executives attending the Middle East Gas Conference in Dubai said in December.
More than 150 executives from energy companies representing the leading producers of gas in the region gathered to discuss the next stage in development of the Middle East’s immense natural gas resources, urging efforts to build capacity to meet surging demand for electricity and accelerate the displacement of oil in power generation.
The first Middle East Gas Conference convened senior policymakers and executives from leading NOCs and IOCs, financiers and infrastructure in Dubai to take the pulse of the rapidly growing industry and prepare to meet the challenges of growing regional population, rising power demand from air conditioning and desalination as well as AI, and to enable the diversification of the region’s economies.
The event was organized by Petroleum Economist in partnership with host sponsor Crescent Petroleum, the oldest and largest private oil and gas company in the region, joined by senior executives from ADNOC, Saudi Aramco, XRG, Bapco Energy, RAK Gas, Dana Gas, SNOC, Shell and others. A number of leading global financial institutions were also present with a special focus on financing natural gas—including Deutsche Bank, Cantor Fitzgerald and FAB.
“Our region is on track to become the world’s second-largest producer of natural gas, behind North America. Since 2020, gas production has grown over 15% and is expected to rise another 30% by 2030, which will require $200b of investment,” said Majid Jafar, CEO of Crescent Petroleum and board managing director of Dana Gas in the opening speech of the conference. “This is not just about meeting energy needs. It is about creating new economic opportunities, driving industrial diversification and fostering stronger regional ties. Gas will be central to ensuring energy security, supporting industrial development, and enabling the clean energy transition,” he added.
The gathering heard that regional gas production needs to add 14bcf/d of new supply by 2030, equivalent to adding the gas demand of Europe’s power sector, to reach 86bcf/d. And delegates also highlighted how broader plans to build out the region’s AI infrastructure, including in the UAE and Saudi Arabia, will add significant new demand as AI’s power-hungry server farms seek to take advantage of the region’s comparatively lower energy costs and modern infrastructure, and require stable baseload reliable power that natural gas can enable. The region’s affordable energy, agile policy and available capital present significant global advantages in the development of infrastructure for AI.
The conference, held at the Waldorf Astoria DIFC, featured special keynote sessions with Musabbeh al-Kaabi, CEO of ADNOC Upstream, and Abdulkarim al-Ghamdi, executive vice-president for gas at Aramco. Delegates also emphasised the need to strengthen partnerships among producers, investors and stakeholders, while promoting new investment models and championing regulatory frameworks to build integrated, resilient gas networks across the region.
Abdulkarim Ghamdi, EVP Gas at Aramco, said: “As the global energy landscape rapidly evolves, one fact is clear across all scenarios: the world will need significantly more energy that is reliable, affordable, and lower-carbon. This places natural gas at the centre of the global energy strategy. At Aramco, we are advancing one of the most ambitious gas expansion programmes in our history, targeting a c.80% increase in sales gas production capacity by 2030 versus 2021 production levels, resulting in reaching around 6m boe/d of total gas and associated liquids. This growth is expected to deliver $12–15b in incremental operating cash flow. With among the lowest upstream costs carbon and methane intensities, leading technologies, exceptional talent and strong partnerships, we are helping build an energy system that works for all.”
Jassim Alshirawi, secretary general, International Energy Forum (IEF) said: “Today’s discussions underline how critical gas and related infrastructure are for meeting rising power demand, supporting industrial growth and enabling sustainable future energy pathways. Delivering on that potential depends on closer cooperation between governments, investors and industry, and the IEF Industry Advisory Council helps make that possible by bringing leading energy companies into the conversation with essential real-world insight, strengthening the bridge between policymakers, financiers, and the sector in support of global energy security.”
Paul Hickin, editor-in-chief and chief economist at Petroleum Economist, added: “This event brought the industry together to unlock the full potential of Middle East gas for its people, supporting secure and sustainable growth across the region.”
About Gulf Energy Information:
Gulf Energy Information (Gulf) is a global leader in energy intelligence, delivering authoritative insight across the natural gas, LNG, upstream, midstream, and downstream sectors. Through publications such as Petroleum Economist, Gas Processing & LNG, Hydrocarbon Processing, H2Tech and World Oil, Gulf provides critical analysis on market trends, project developments, technology innovation, and the energy transition. For more than one hundred years, Gulf has connected industry executives, engineers and policymakers through trusted journalism, data solutions and world-class conferences.
For enquiries, please contact Rachel McGhie at rachel.mcghie@gulfenergyinfo.com.
About Crescent Petroleum:
Crescent Petroleum is the first and largest private exploration and production company in the Middle East, with more than 50 years of experience as an international operator in numerous countries including Egypt, Yemen, Canada, Tunisia, and Argentina, in addition to its continuing operations in the United Arab Emirates and Iraq.
Headquartered in the UAE, Crescent Petroleum has international offices in the UK and three locations across Iraq, as well as affiliated offices in Egypt. Crescent Petroleum is also the largest shareholder in Dana Gas, the Middle East’s first and largest regional private-sector natural gas company. www.crescentpetroleum.com
Comments