It is reported that the fast growing economies of the GCC face a looming energy shortage that can be addressed through increased cooperation between resource owning countries and international oil companies, utilizing the majors' global expertise in developing difficult hydrocarbons.

Mr Steve Peacock president of BP Middle East and South Asia said that "The trends we see in the Middle East are similar to other parts of the world there are plenty of hydrocarbons, but they are becoming more difficult and more costly to extract and unprecedented growth in demand means that supply is struggling to keep pace in some areas, especially for gas. This rate of demand growth and shortage of gas for power generation, desalination and industrial feedstock is putting some national growth plans at risk."

Mr Peacock said that "International oil companies, like BP, have significant global know how in achieving extraordinary recovery from existing oil and gas fields, in developing difficult gas and in tackling carbon emissions The challenge of closing the GCC energy gap presents an opportunity for governments and industry to work together in partnership. We can take best practices and processes developed from around the world and bring them to bear on specific national issues, in a way that is beneficial to all."