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Natural Gas Pricing in Countries of the Middle East and North Africa

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  • Hossein Razavi

Abstract

This paper presents a quantitative framework for discussing the gas pricing policy in the countries of Middle East and North Africa (MENA) where gas prices are set directly or indirectly by the governments. It concludes that the price of gas in most MENA countries is substantially below its economic cost, resulting in wasteful use of gas and electricity, deployment of inefficient technologies, and huge burden on government budgets. The low gas price also causes a bias in favor of gas export projects while at the same time reduces investorsÕ interest in the upstream and downstream gas sector. The implications are most interesting about four countries Ð Algeria, Qatar, Egypt and Iran Ð where each country has to revisit its gas allocation policy and where each government is trying to de-link investorsÕ interest from domestic gas prices.

Suggested Citation

  • Hossein Razavi, 2009. "Natural Gas Pricing in Countries of the Middle East and North Africa," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 1-22.
    • Handle: RePEc:aen:journl:2009v30-03-a01
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    Cited by:

    1. Vásquez Cordano, Arturo L. & Zellou, Abdel M., 2020. "Super cycles in natural gas prices and their impact on Latin American energy and environmental policies," Resources Policy, Elsevier, vol. 65(C).
    2. Burke, Paul J. & Yang, Hewen, 2016. "The price and income elasticities of natural gas demand: International evidence," Energy Economics, Elsevier, vol. 59(C), pages 466-474.
    3. World Bank, 2013. "Regional Gas Trade Projects in Arab Countries, Volumes 1 and 2," World Bank Publications - Reports 17366, The World Bank Group.
    4. Barnes, Ryan & Bosworth, Ryan, 2015. "LNG is linking regional natural gas markets: Evidence from the gravity model," Energy Economics, Elsevier, vol. 47(C), pages 11-17.
    5. Harinder Kohli & Ashok Sharma & Anil Sood (ed.), 2011. "Asia 2050: Realizing the Asian Century," Books, Emerging Markets Forum, edition 1, number asia2050, Summer.
    6. Jim Krane, 2015. "Stability versus Sustainability: Energy Policy in the Gulf Monarchies," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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