APICORP’s review of MENA energy investment, published in its Economic Commentary for January-February 2014, has established that despite slow global recovery, uncertain markets, and lasting regional turmoil, capital requirements for the five-year period 2014-2018 amount to $765bn, slightly higher compared to that of recent reviews (see figure B1).

The geographical pattern of investment has been greatly affected by the Arab uprisings. The GCC countries, which have largely been spared the turmoil, see their share of MENA capital requirements increase to 56% from 52% in the last review, led once again by Saudi Arabia and UAE (see figure B2).

Capturing the full scope and scale of the power sector by including the transport and distribution (T&D) systems, has reshaped the sectorial distribution of investment. As a result, each of the oil, gas and power value chains is now responsible for about one-third of the region’s total (see figure B3).