Mid-North East Africa reserves 42% of global gas reserves

Recently, Apicorp, an Arab Petroleum Exporting Countries Organization, issued a research report that the proved natural gas reserves in the Middle East and North Africa reached 88 trillion cubic meters, accounting for nearly 42% of the world's proven reserves. According to the average annual growth rate of 6.9% for the past 10 years, the current proven reserves can also be mined for 33 years.

According to the report, as of the beginning of this year, proven reserves in the major countries in the region were: Iran’s 33.1 trillion cubic meters, Qatar 25 trillion cubic meters, Saudi Arabia’s 8.2 trillion cubic meters, UAE’s 6.1 trillion cubic meters, and Algeria’s 4.5 trillion cubic meters. There are 3.6 trillion cubic meters in Iraq, 2.2 trillion cubic meters in Egypt, 1.8 trillion cubic meters in Kuwait, 1.5 trillion cubic meters in Libya and 0.9 trillion cubic meters in Oman.

The report shows that the potential reserves of natural gas in the region are expected to be as high as 26.6 trillion cubic meters, which is 12.8 trillion cubic meters for Saudi Arabia, 5.9 trillion cubic meters for Iran, 0.92 trillion cubic meters for Algeria, 0.81 trillion cubic meters for UAE, and 0.77 trillion for Qatar. Cubic meters, Oman 0.63 trillion cubic meters, Libya 0.39 trillion cubic meters and Egypt 0.38 trillion cubic meters.