Co-hosted With Khalifa University and International Association for Energy Economics (IAEE)
Natural gas has been instrumental in meeting growing power demand in Gulf Cooperation Council (GCC) countries and establishing industrial bases that have contributed to their economic growth. Within the last decade, regional gas demand has grown by 100 billion cubic meters (bcm), placing GCC countries among the largest gas consumers per capita globally. After the significant drop in oil prices in 2014-15, there was an apparent shift by GCC members to increase their gas utilization, setting ambitious targets for the development of their abundant non-associated gas reserves. So far, these gas strategies have been set by individual countries. However, could stronger cooperation among the GCC members foster a more efficient monetization of their gas resources? In the past, they have pursued joint infrastructure projects to promote regional integration, successfully forming a regional power grid as a result. This workshop will bring together regional and international stakeholders to investigate current strategies for developing the GCC’s existing gas markets, the prospects for a GCC gas grid, and how such a gas grid could integrate with the gas markets of neighboring countries beyond the GCC. The discussion will focus on opportunities and challenges for natural gas trade and infrastructure in the GCC as well as potential policy and institutional frameworks.