Page 15 - DMEA Week 41 2022

DMEA NEWS IN BRIEF DMEA

business new europe bne/IntelliNews

“Add to this the lesson Iran’s revolutionaries economy is expected to turbocharge to 6.6% bring most of the new LNG volumes between
internalised from the dissolution of the Soviet growth in 2022 led by a strong recovery in the 2025 and 2027.
Union (how long did Mikhail Gorbachev tourism sector and exports before easing to Speaking on the value of QatarEnergy’s inter-
remain president after he introduced substantial a 4.4% annual growth in 2023 affected by the national partnerships in these ambitious pro-
reforms?) and the counter-example of China global economic slowdown. jects, Minister Al Kaabi said: “the partnership
(with Deng Xioaping crushing the Tiananmen Morocco’s principally agriculture-based model we are adopting has been very successful
protest to maintain the party’s power), and it economy is expected to put on a 0.8% GDP in making us what we are today, giving us the
becomes clear that this regime will not go with growth this year affected by a severe drought ability to develop the best competencies, capa-
a whimper.” before recovering to a 3.1% growth next year. bilities, technologies, and marketing support.
Of course, concludes Adebahr, the current bne/IntelliNews, October 13 2022 We are grateful for our all our partners who are
protests could be the beginning of the end of working with us hand in hand to reach where
the Islamic Republic, but he says: “For this to we are.”
happen, however, they would not only need to COMPANIES On net-zero, His Excellency said that while
be sustained in the face of unrelenting brutal- many countries had made announcements to
ity, but become a movement organised around Three partners to join meet certain targets by certain times, they did
a programme—ideally going beyond ‘death to not have the plan and/or the will to take that
the dictator’—and some leadership structures. the North Field South commitment to the finish line. As a result, His
Whereas the Islamic revolutionaries of 1979 Excellency added, coal burning is making a
could rely on the network of mosques and the development project comeback more than any other time, putting us
clergy inside the country, there is nothing com- many years backwards.
parable today that could help channel the unrest. Saad Sherida Al Kaabi, the Minister of State His Excellency Minister Al Kaabi highlighted
“Lacking such organisation, the demonstra- for Energy Affairs, the President and CEO of Qatar’s role in reducing gas emissions and car-
tions could either be crushed, as in the past, or QatarEnergy, revealed that three new partners bon footprint, saying: “His Highness the Amir
become more violent as people become more will be entering the North Field South (NFS) will inaugurate Al-Kharsaah solar power station
desperate. Moreover, those fundamental griev- project in addition to the partner recently later this month, which has a capacity of 800
ances that go beyond freedom and human rights announced, adding that they will be announced MW, providing our national grid with 10% of
inside the country could become more promi- in due course. local demand. This says quite a lot for a major
nent. And that’s even before thinking about how His Excellency made the remarks during the gas producer.”
neighboring countries and regional powers near Energy Intelligence Forum’s Energy Executive of “We are the largest MENA country in terms
and far might want to take advantage of a weak- the Year Leadership Dialogue in London. of injecting CO2, as part of our carbon capture
ening of the Islamic Republic.” H.E. Minister Al Kaabi noted that the North and sequestration efforts. We are currently
bne/IntelliNews, October 12 2022 Field East, North Field South, and Golden Pass injecting 2.5 million tons as we speak, which
projects will bring a total of 48mn tonnes per will grow to over 11 million tonnes of CO2 per
IMF sees MENA region’s year (tpy) of LNG, stressing that Qatar alone will annum by 2035, His Excellency added.”
economic growth hitting

5% in 2022 before

decelerating in 2023

The International Monetary Fund has adjusted
its real GDP growth forecast for the Middle East
and North Africa region to 5% in 2022, with
equal contributions from both oil importing and
oil exporting economies, declining to 3.6% the
following year.
Oil-exporting economies in the Middle East
are now expected to expand by 4.9% in 2022, led
by Saudi Arabia, whose heavily oil-dependent
economy -- the largest in the region -- is fore-
casted to grow by 7.6% this year before easing to
3.7% next year.
The United Arab Emirates’ economy is fore-
casted to post a 5.1% growth this year before
declining to 4.2% in 2023. Algeria’s heavily gas
export-based economy is growing by 4.7% in
2022 on skyrocketing global prices for the com-
modity before dropping to 2.6% growth in 2023.
While oil-importing economies are fore-
casted to grow by 5.1% in 2022 before falling to
a more moderate 3.7% growth in 2023. Egypt’s

Week 41 13•October•2022 www. NEWSBASE .com P15