The 9.6m t/yr liquefied natural gas project was originally due to be developed in Fujairah, but was moved to Abu Dhabi emirate in early 2023. Once complete in 2029, it will more than double the UAE’s LNG production capacity to 15.6m t/yr.
Issue 1194 - 27 November 2024
The start of services on the Riyadh Metro and hotel openings at the Red Sea Project are positive signs of progress in the kingdom’s ‘giga-project’ economy. But for all the hype about the government’s shift away from Saudi Arabia’s reliance on oil revenues, hydrocarbons are as vital to the economy today as they were when Crown Prince Mohammed Bin Salman launched his Vision 2030 diversification strategy in 2016. The turnover of key executives suggests the Saudi top team is unhappy with progress to date.
Issue 1194 - 28 November 2024
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