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

Cory moves to Ipswich office thumbnail image

Cory moves to Ipswich office

October 18 - UK-headquartered Cory Brothers has relocated its office in Felixstowe to Ipswich town centre.
Views: 428
Bichowski joins AMT thumbnail image

Bichowski joins AMT

October 18 - Switzerland-headquartered logistics and supply chain specialist AMT has appointed Frank Bichowski as its chief commercial and operations officer.
Views: 511
Hughes-Hallett passes after long illness thumbnail image

Hughes-Hallett passes after long illness

October 18 - James Hughes-Hallett, former chairman of Hong Kong’s Swire Group and London-based shipbroker Clarksons, has passed away at the age of 70.
Views: 483

Heavy Lift Across The World

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