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Title: Gas projects surge in the Middle East as governments seek new revenue sources

Abstract

The rapid development of natural gas and condensate reserves in the Middle East results from a simple motivation: the desire of governments to earn revenues. For the past decade, Middle East governments have run budget deficits, which they funded by drawing down foreign assets and issuing debt. Now in the process of structural economic reform, they have begun to use an under-utilized resource--natural gas, of which Middle East governments own about one third of the world`s reserves. Governments receive revenues from several sources in natural gas developments, which makes the projects very attractive. Revenue comes from the sale of the natural gas in the domestic market and, if exported, the international market; the sale of associated condensates; the additional exports of crude oil or refined products if natural gas is substituted for refined products in domestic markets; the increased sale of crude oil if natural gas is injected into reservoirs to maintain pressure; and the sale of petrochemicals where natural gas is used as feedstock. Large projects under way in the Middle East highlight the consequences of multiple revenue sources and interlinked costs of natural gas and condensate development. Other countries in the region are undertaking similar projects, so examplesmore » cited represent only a portion of what is occurring. The paper describes Abu Dhabi, Qatar, Saudi Arabia, and Iran.« less

Authors:
 [1]
  1. International Energy Agency, Paris (France)
Publication Date:
OSTI Identifier:
445591
Resource Type:
Journal Article
Resource Relation:
Journal Name: Oil and Gas Journal; Journal Volume: 95; Journal Issue: 8; Other Information: PBD: 24 Feb 1997
Country of Publication:
United States
Language:
English
Subject:
03 NATURAL GAS; 29 ENERGY PLANNING AND POLICY; NATURAL GAS INDUSTRY; GOVERNMENT POLICIES; MIDDLE EAST; NATURAL GAS; GAS CONDENSATES; ECONOMIC DEVELOPMENT; UNITED ARAB EMIRATES; QATAR; SAUDI ARABIA; IRAN; RESOURCE DEVELOPMENT

Citation Formats

Williams, M.D. Gas projects surge in the Middle East as governments seek new revenue sources. United States: N. p., 1997. Web.
Williams, M.D. Gas projects surge in the Middle East as governments seek new revenue sources. United States.
Williams, M.D. Mon . "Gas projects surge in the Middle East as governments seek new revenue sources". United States.
@article{osti_445591,
title = {Gas projects surge in the Middle East as governments seek new revenue sources},
author = {Williams, M.D.},
abstractNote = {The rapid development of natural gas and condensate reserves in the Middle East results from a simple motivation: the desire of governments to earn revenues. For the past decade, Middle East governments have run budget deficits, which they funded by drawing down foreign assets and issuing debt. Now in the process of structural economic reform, they have begun to use an under-utilized resource--natural gas, of which Middle East governments own about one third of the world`s reserves. Governments receive revenues from several sources in natural gas developments, which makes the projects very attractive. Revenue comes from the sale of the natural gas in the domestic market and, if exported, the international market; the sale of associated condensates; the additional exports of crude oil or refined products if natural gas is substituted for refined products in domestic markets; the increased sale of crude oil if natural gas is injected into reservoirs to maintain pressure; and the sale of petrochemicals where natural gas is used as feedstock. Large projects under way in the Middle East highlight the consequences of multiple revenue sources and interlinked costs of natural gas and condensate development. Other countries in the region are undertaking similar projects, so examples cited represent only a portion of what is occurring. The paper describes Abu Dhabi, Qatar, Saudi Arabia, and Iran.},
doi = {},
journal = {Oil and Gas Journal},
number = 8,
volume = 95,
place = {United States},
year = {Mon Feb 24 00:00:00 EST 1997},
month = {Mon Feb 24 00:00:00 EST 1997}
}