Latest news from Heavy Lift & Project Forwarding International Magazine

Middle East to ramp up energy investments

Rystad Energy said that up to USD240 billion of greenfield oil and gas investments could be sanctioned in 2019, with almost 25 percent of this coming from the Middle East region.

Photo credit: Saudi Aramco

“The industry in the Middle East is aiming to ramp up gas production in order to meet rising regional demand, while also increasing oil output,” said Rystad Energy senior analyst, Aditya Saraswat. 

“Notably, investments in gas developments are picking up significantly. Gas development projects in Qatar and the UAE account for almost a third of the resources expected to be sanctioned next year, while Saudi Arabia’s oil expansion projects at Berri, Marian and Zuluf account for more than half,” Saraswat added.

Qatar plans to boost its LNG capacity to 110 million tonnes per annum (tpa) and solidify its position as the top LNG producer globally. Rystad Energy estimates that some USD35 billion of investment will be needed to achieve this target.

The UAE is prioritising offshore gas projects to increase availability for domestic consumption and reduce its dependence on imported gas and LNG.

Saudi Arabia will develop around 9.8 billion barrels of oil equivalents (boe) of additional resources by investing just over USD24.5 billion at the Marjan, Berri and Zuluf oil fields, according to Rystad Energy.

This article is taken from the Capital Projects and Contracts newsletter. 

Heavy Lift | News

Rotterdam moves ahead with rail link thumbnail image

Rotterdam moves ahead with rail link

June 2 - A steel arch bridge has been installed across the Thomassentunnel and the A15 and N15 motorways in the Netherlands, forming a key link in the port of Rotterdam’s proposed Theemswegtracé railway line.
Views: 316
Mediaco acquires Chieusse Levage thumbnail image

Mediaco acquires Chieusse Levage

June 1 - French crane rental company Mediaco has acquired Chieusse Levage, which operates in the south of the country.
Views: 387
Zelaya joins UTC thumbnail image

Zelaya joins UTC

June 1 - Global freight forwarder and specialised transportation provider UTC Overseas has appointed Jo Ann Zelaya as director, rail, rigging and heavy haul.
Views: 363
Airpes expands North American team thumbnail image

Airpes expands North American team

June 1 - Airpes – a manufacturer of lifting, weighing and below-the-hook equipment – has expanded its North American network with the appointment of three sales representatives.
Views: 352

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.