Despite huge reserves, most GCC states suffer from gas shortages due to inadequate development. Ambitious plans have been put forward, but the IEA remains pessimistic on their viability and gas drilling rates are muted.

The GCC states are sitting on huge volumes of gas, with three members among the top 10 largest global reserve holders. Yet apart from Qatar, the world’s largest LNG exporter, none have sufficiently developed their gas reserves. Several are becoming increasingly...