Natural Gas Market in Middle East Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Middle East Natural Gas Market Overview and it is segmented by Type (Ethane, Methane, Propane, and Others), By Source (Conventional gas, and Unconventional gas), By Application (Automotive, Power generation, Household, and Industrial fuel), and by Country (Saudi Arabia, UAE, Iran, and Rest of Middle East). The market size and forecasts for Natural gas are Provided in revenue (USD million) for all the above segments.

Natural Gas in Middle East Market Size

Middle East Natural Gas Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

Middle East Natural Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Natural Gas in Middle East Market Analysis

The Middle East Natural gas market is projected to register a CAGR of over 5% in the current year.

COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.

  • Increasing demand for natural gas in the Chemical, Industrial, and transportation sector are expected to drive the demand for natural gas during the forecast period.
  • Technological advancements in extracting natural gas create ample opportunities for the market player in the given region.
  • Volatility in crude oil prices is hindering the market.
  • During the forecast period, Saudi Arabia will be the fastest-growing country in the Middle East Natural gas market. The natural gas share increased to 55% of total energy demand in the Middle East from 52% in 2019 and 45% in 2009.

Natural Gas in Middle East Market Trends

This section covers the major market trends shaping the Middle East Natural Gas Market according to our research experts:

Power generation to Dominate the Market

  • Power generation increased by 0.6% in 2020, lower than the 10-year average of +4.5% in the Middle East, with Iran being +3.8% and Israel at +2.4%. They also have the largest growth rates.
  • Gas production increased by 8.4 bcm in 2020, driven by an increase in Iran is +3.6% but offset by falling production in Kuwait is -17%, and UAE is -4.7%.
  • Moreover, the total electricity generation in the Middle East is 1305.6 terra watt hours in 2021 as compared to 1243 terra watt in 2020. Thus power generation is expected to grow in the given forecast period.
  • According to IEA, Middle-East energy production decreased by 3% in 2019 (from 86 EJ to 83 EJ). Oil and natural gas production showed opposite trends, the former dropping by 5% in 2019 to 31% of the world's oil production, whereas the latter grew by 3%, maintaining a 16% share of the global natural gas supply in 2019.
  • Hence, owing to the above points, the Power generation segment will likely see significant market growth during the forecast period.
Middle East Natural Gas Market: Electricity generation, in TWh, Middle East, 2017-2021

Saudi Arabia Expected to see Significant the Market Growth

Saudi Arabia was the sixth-largest natural gas producer in the world, behind Russia, Iran, Qatar, the United States, and Turkmenistan in 2021. Saudi Arabia's extensive natural gas infrastructure can capture, process, and transport natural gas to the country's demand centers.

As of 2021, the consumption of natural gas increased in the country from 4.07 exajoules in 2020 to 4.22 exajoules in 2021 due to the government's emphasis on boosting gas production and use to lessen its carbon footprint.

Saudi Arabia had a vast increase in natural gas production, going from 99.2 billion cubic meters in 2015 to 117.3 billion cubic meters in 2021. The sector's growth is anticipated to be boosted by a further increase in production.

The nation has an integrated system for collection, processing, and transmitting gas called the master gas system (MGS). This system is used for both associated and non-associated natural gas transportation to produce NGLs (natural gas liquids). The demand for natural gas is anticipated to rise along with the need for NGLs.

Hence, owing to the above points, Saudi Arabia is expected to see significant market growth in the Natural gas market during the forecast period.

Middle East Natural Gas Market: Natural gas production, in billion cubic meters (bcm), Saudi arabia, 2015-2021atural Gas Market

Natural Gas in Middle East Industry Overview

The Natural gas market is moderately consolidated. Some of the key players in this market are Saudi Aramco, BP PLC, Total Energies SE, Royal Dutch Shell PLC, and Exxon Mobil Corporation.

Natural Gas in Middle East Market Leaders

  1. Saudi Aramco

  2. BP PLC

  3. Total Energies

  4. Royal Dutch Shell PLC

  5. Exxon Mobil Corporation

*Disclaimer: Major Players sorted in no particular order

Middle East Natural Gas Market Concentration
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Natural Gas in Middle East Market News

  • In March 2022, the governments of Saudi Arabia and Kuwait signed a contract to develop the offshore gas resource known as Durra, located in their shared neutral zone. The offshore gas field is anticipated to generate 84,000 barrels of condensate daily and 1 billion cubic feet of gas daily.
  • In December 2021, TotalEnergies signed an agreement with the Oman government to sustain the country's natural gas resources and to develop its energy sector more sustainably.

Natural Gas in Middle East Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Force Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Ethane

      2. 5.1.2 Propane

      3. 5.1.3 Methane

      4. 5.1.4 Other Gas Types

    2. 5.2 Source

      1. 5.2.1 Conventional Gas

      2. 5.2.2 Unconventional gas

    3. 5.3 Application

      1. 5.3.1 Automotive

      2. 5.3.2 Power generation

      3. 5.3.3 Household

      4. 5.3.4 Industrial Fuel

    4. 5.4 Countries

      1. 5.4.1 Saudi Arabia

      2. 5.4.2 UAE

      3. 5.4.3 Iran

      4. 5.4.4 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures

    2. 6.2 Strategies Adopted by Key Players

    3. 6.3 Company Profiles

      1. 6.3.1 Royal Dutch Shell

      2. 6.3.2 Exxon Mobil Corporation

      3. 6.3.3 BP PLC

      4. 6.3.4 Chevron Corp

      5. 6.3.5 Saudi Aramco

      6. 6.3.6 Total SA

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Natural Gas in Middle East Industry Segmentation

Natural gas is a fossil energy source that forms deep beneath the earth's surface. The natural gas market is segmented by type, source, application, and country. By type, the market is segmented into ethane, methane, propane, and other types. By source, the market is segmented into conventional gas and unconventional gas. By application, the market is segmented into automotive, power generation, household, and industrial fuel. The report also covers the market size and forecasts for the natural gas market across major regions. For each segment, the market sizing and forecasts have been done based on revenue.

Type
Ethane
Propane
Methane
Other Gas Types
Source
Conventional Gas
Unconventional gas
Application
Automotive
Power generation
Household
Industrial Fuel
Countries
Saudi Arabia
UAE
Iran
Rest of Middle East and Africa
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Natural Gas in Middle East Market Research FAQs

The Middle East Natural Gas Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Saudi Aramco, BP PLC, Total Energies, Royal Dutch Shell PLC and Exxon Mobil Corporation are the major companies operating in the Middle East Natural Gas Market.

The report covers the Middle East Natural Gas Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Middle East Natural Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Natural Gas in Middle East Industry Report

Statistics for the 2024 Natural Gas in Middle East market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Natural Gas in Middle East analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Natural Gas Market in Middle East Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)