Energy

Unlike many of its neighbours, Jordan does not benefit from large hydrocarbons reserves. Consequently, around 96% of Jordan’s energy is imported, which costs as much as 20% of GDP on an annual basis. Spending on oil imports increased by 80% in January 2012 year-on-year, and this follows a 58% increase in spending between 2010 and 2011. To reduce dependence on foreign imports, policy makers are continuing to pursue an energy diversification strategy as a matter of urgency, focusing on new sources of natural gas in the short term, as new private-sector proposals in oil shale, nuclear and renewables come to fruition. This chapter includes interviews with Qutaibah Abu Qura, Minister of Energy and Mineral Resources; Mike Weightman, Chairman of the Regulatory Cooperation Forum; and Christopher Morgan, Chairman of Karak International Oil.