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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    OAPEC issues four important recommendations for Arab gas producing countries

    Rocky
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    OAPEC issues four important recommendations for Arab gas producing countries Empty OAPEC issues four important recommendations for Arab gas producing countries

    Post by Rocky Tue 16 May 2023, 3:55 pm

    OAPEC issues four important recommendations for Arab gas producing countries
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    Baghdad today - follow-up
    OAPEC Secretary General Jamal Al-Loughani said that the year (2022) was the year of gas par excellence, given the dynamic developments and changes it witnessed in the field of supply and demand.
    This came during the meeting of the General Secretariat of the Organization of Arab Petroleum Exporting Countries (OAPEC), today, Tuesday, No. 22 of gas experts in the member states of the organization, with the participation of more than 75 experts and specialists in the gas industry, from 7 countries.
    OAPEC Secretary General stated that gas prices recorded unprecedented levels during the past year, reaching 340 euros ($370.4) per megawatt in the European market in late August, or about $100 per million British thermal units, which strongly affected the energy system. Globalism.

    gas demand in 2022

    Engineer Jamal Al-Loughani said that despite the recovery witnessed in 2021, after the global economic recovery from the repercussions of the Corona pandemic, demand declined again in 2022, but by a slight rate, amounting to about 0.4%, recording 388 billion standard cubic feet per day.
    Al-Loughani attributed this to the relatively warm winter conditions witnessed by the continent of Europe, which then led to a decrease in the demand for gas for heating purposes in the residential sector. The high gas prices also affected the demand rates in the industrial sector, as some of them resorted to reducing their activity because they were unable to bear the high costs of gas. .
    With regard to developments in the gas industry and its repercussions on the Arab region, OAPEC Secretary General said that the Arab region is strongly present in the global gas scene, in light of the European market's urgent need to increase gas supplies from the region.
    Al-Loughani added that this is thanks to the important economic partnership between the two sides, which extends for several decades, in order to compensate for the shortage in Russian gas supplies, after the invasion of Ukraine, which positively affected Arab liquefied gas exports, which were recorded in 2022 about 114.3 million tons, which is the highest number since 2013, with an annual growth rate of 2.2%, with a market share of 29%.

    4 important recommendations

    OAPEC Secretary General Jamal Al-Loughani affirmed the organization's keenness to continuously monitor developments and developments in the global gas market, by preparing periodic studies and reports related to developments in the natural gas sector, and their repercussions on Arab countries.
    The meeting witnessed a discussion of the paper of the OAPEC General Secretariat entitled "Developments of the Natural Gas Industry at the Arab and International Levels", in addition to other papers, in which the participants concluded a number of conclusions and recommendations, namely:
    • The importance of the role of gas, not only in the energy transition process, but also as a major source in the energy system in the future.

    • Diversifying the sources of gas supplies and not relying on a single source to enhance energy security, which is achieved by liquefied natural gas, which contributed to enhancing energy security in Europe.

    • Emphasizing the importance of investing in the natural gas sector in the Arab countries, and working to use it in all economic sectors, to benefit from its economic and environmental advantages.

    • Emphasizing the importance of Arab countries as a reliable, safe and sustainable supplier of natural gas to global markets, and the importance of strategic relations with international parties.


    Al-Loughani pointed out that the reports and studies of the organization’s general secretariat have become an important source for national and regional institutions and bodies, and are receiving attention from media organizations, pointing to the organization’s keenness to participate in various regional and international events to highlight the point of view of its member states on gas market developments.
    OAPEC Secretary General stated that the organization's general secretariat contributes effectively to the United Nations Gas Experts Committee in Geneva, as it recently presented its vision on the competitiveness of blue hydrogen production, in which it confirmed that the region will become the largest source of blue ammonia by 2030.
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