ABSTRACT
The energy developments have a variety of impacts and also create their own regional, political, and economic dynamics. The observed global energy market dynamics and the dimensions of the energy trilemma challenge traditional political patterns and economic models, increasing the urgency to act upon the new developments. Moreover, amid an uncertain time horizon and unclear transition paths, demand for both oil and natural gas around the globe will persist, giving Middle East and North Africa (MENA) energy producers some confidence in a long-term perspective for oil and natural gas exports. The geography of energy is also changing on the supply side. The MENA region was considered to be the global center of marginal energy production, as countries were able to respond flexibly to changes in global energy demand thanks in part to their extremely low production costs and the fact that governments are in charge of industry.
