News
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Saudi Arabia allows Hail airport bidders more time Administrator16 March 2026
Saudi Arabia’s Cluster2 Company, which operates under the state-owned Matarat Holding, has extended the bid deadline to 29 March for a contract to expand Hail airport.
The notice was issued in early January. The previous deadline was 1 March.
The scope of work covers the upgrade and expansion of the terminal infrastructure, including departures and arrivals areas, enhanced baggage handling facilities and other associated works.
The terminal expansion works include the south expansion, which encompasses the construction of a new building covering 5,600 square metres. This building will connect to the existing terminal from the southern side.
The expansion will increase the airport’s capacity to about 1.7 million passengers a year by 2030.
Cluster2 Company operates and manages 22 airports in Saudi Arabia, both domestic and international. It was established in 2022 as part of Matarat Holding to modernise and improve airport operations and the passenger experience.
Cluster2 Company aims to improve service quality, safety and operational efficiency while supporting traffic growth and local economic development. Through standardised processes, technology adoption and infrastructure upgrades, the company contributes to Matarat’s broader goals of enhancing connectivity, enabling tourism and business travel, and aligning airport performance with Saudi Vision 2030.
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Qatar’s new $8bn investment spices up global LNG race Administrator13 March 2026
In the midst of the conflict between Iran and the US and Israel, which has spilled over into the GCC region, QatarEnergy has temporarily halted production of liquefied natural gas (LNG) in the country and declared force majeure on LNG shipments after its energy assets came under attack.
When the fog of war clears, however, and the Strait of Hormuz reopens to oil and gas flows, the global economy will look to QatarEnergy to swiftly restore regular LNG cargoes in order to bring gas prices down from record highs.
Beyond that short-term role, the recent $8bn investment the Qatari giant has committed to building two new LNG processing trains will also cement its position as a reliable long-term supplier, while further intensifying the race among global LNG producers to carve out larger market shares in an increasingly gas-hungry world.
North Field West – a game changer
The state-owned company has progressed from the front-end engineering and design (feed) phase to the engineering, procurement and construction (EPC) stage of its North Field West LNG project at pace.
It awarded the main EPC contract for the scheme – covering two LNG processing trains with a total capacity of 16 million tonnes a year (t/y) – to a joint venture comprising France’s Technip Energies, Greece/Lebanon-based Consolidated Contractors Company (CCC) and Gulf Asia Contracting on 25 February.
The contract, estimated to be worth $8bn, was awarded just a month after Japan-based Chiyoda Corporation won the project’s feed contract.
Such a short interval between the feed and EPC phases for a project as large as North Field West LNG would typically be considered improbable. Industry sources suggest QatarEnergy may have been in discussions with Chiyoda and the Technip Energies-CCC consortium for at least a year regarding the feed and EPC contracts, respectively – particularly given the two-year gap between the project’s announcement in February 2024 and the start of the EPC phase.
Chiyoda, Technip Energies and CCC are also involved in the first two phases of QatarEnergy’s $40bn North Field LNG expansion project. A consortium of Chiyoda and Technip Energies is executing EPC works on the North Field East project, which involves the construction of four LNG trains with a combined capacity of 32 million t/y, following the award of a $13bn contract in February 2021. Meanwhile, a Technip Energies-CCC consortium is carrying out EPC works on two 7.8 million t/y LNG trains as part of the North Field South project, having secured a $10bn contract in May 2023.
More significant, however, is the speed with which QatarEnergy is advancing its strategic objective of reaching a total LNG production capacity of 142 million t/y by the end of the decade, from 77.5 million t/y at present.
With all three phases of the North Field LNG expansion programme now under EPC execution – and North Field East scheduled for commissioning later this year – QatarEnergy appears firmly on track to become one of the world’s largest LNG suppliers over the long term, reinforcing Qatar’s economic future in the process.
US domination
While QatarEnergy is on course to increase its LNG production capacity by 83% by 2030 through the overall North Field LNG expansion programme, it is still some way behind the US, which is set to account for over half of the total global LNG liquefaction projects by 2030.
There are 40 new-build and expansion LNG liquefaction projects planned or under way in the US, according to UK analytics firm GlobalData. Among these, two projects stand out.
The first is the Rio Grande LNG production project, being developed by NextDecade in Texas, on the US Gulf of Mexico coast. Up to 10 processing trains are planned for the complex, the first three of which are in the EPC phase.
NextDecade achieved the final investment decision on the fourth and fifth trains at the facility, estimated to cost $6.7bn each, in September and October last year. The company has awarded EPC contracts to build all five trains at the Rio Grande facility to US-based Bechtel.
On the investments front, the overseas-focused energy investment vehicle of Abu Dhabi National Oil Company (Adnoc), XRG, acquired an indirect 11.7% stake in the first phase of the project from Global Infrastructure Partners (GIP), part of US asset manager BlackRock, in September last year. In February 2026, XRG entered into another transaction with GIP to raise its overall participation in the Rio Grande LNG project by acquiring additional 7.6% equity interests in trains four and five of the scheme.
Additionally, as part of that transaction, another Adnoc Group subsidiary, Adnoc Trading, entered into a 20-year offtake agreement with NextDecade last year to purchase 1.9 million t/y of LNG from Rio Grande train four, on a free-on-board basis at a Henry Hub-indexed price. France’s TotalEnergies and Saudi Aramco are the other LNG offtakers for train four.
Separately, the Commonwealth LNG facility in the US state of Louisiana has also received backing from Abu Dhabi. Expected to start operations in 2030, the facility is designed to produce up to 9.5 million metric t/y of LNG.
Commonwealth LNG is a project of US-based alternative asset manager Kimmeridge Energy Management Company and Abu Dhabi’s sovereign wealth fund Mubadala Investment Company through their joint venture Caturus.
Caturus was formed in August 2025 when Kimmeridge announced a rebranding that saw Commonwealth LNG and Kimmeridge’s upstream operations combined under a new integrated platform. At the same time, Mubadala acquired a 24.1% equity stake in Caturus, providing financial backing for the new entity to proceed with the Commonwealth LNG project.
Also in August, Caturus awarded Technip Energies the contract for EPC works on the Commonwealth LNG project. The French contractor had previously performed the project’s feed work.
Moreover, Aramco subsidiary Aramco Trading signed a 20-year agreement to buy 1 million metric t/y of LNG from the Commonwealth LNG facility in February, increasing offtake deals secured by Caturus to cover 8 million metric t/y of the project’s total planned output capacity.
Positive outlook
The growth in LNG production capacity in the US, as well as in wider North America, is driven by several factors, including abundant natural gas reserves, the shale gas revolution and advancements in hydraulic fracturing and horizontal drilling.
While it might be a challenge for QatarEnergy to compete with US players in combined liquefaction capacity, its strength and success will lie in clinching long-term offtake deals with customers in Asia, where the bulk of global LNG demand growth is expected.
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Bahrain opens bids for first solar IPP project Administrator13 March 2026
Two companies have made offers for a contract to develop Bahrain’s first solar photovoltaic (PV) independent power project (IPP).
Bahrain’s Electricity & Water Authority (EWA) opened bids for the Bilaj Al-Jazayer solar IPP project on 12 March.
The bidders include Saudi Arabia’s Acwa, formerly Acwa Power, and UAE-headquartered Yellow Door Energy.
The 150 MWac Bilaj Al-Jazayer solar IPP project will be Bahrain’s first grid-connected solar PV power plant developed under a public-private partnership (PPP) framework on a build-own-operate basis. It will be delivered as a long-term concession and is intended to come online by 2027.
The proposed site covers more than 1 square kilometre, with the private sector responsible for end-to-end development, including financing, design, construction and operation.
Last August, EWA held a market consultation event during which it outlined plans for the country’s first solar PV IPP. The main contract was then tendered in October.
EWA said Yellow Door Energy’s proposal was “accepted with conditions”, but did not disclose further details.
The local KPMG Fakhro is the financial consultant, the US’ WSP Parsons Brinckerhoff is the technical consultant, and the UK’s Trowers & Hamlins is the legal consultant.
Bahrain’s clean energy targets, as set by its national plans, include 20% renewables by 2035, and net-zero emissions by 2060.
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DP World sees Red Sea port volumes rising as Hormuz shuts Administrator13 March 2026
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Dubai-based ports operator DP World is preparing for higher throughput at its Red Sea terminals as the Iran conflict approaches its second week, CEO Yuvraj Narayan said on Thursday.
With the Strait of Hormuz effectively closed and tanker attacks escalating, shipping movements into Gulf ports have fallen.
The disruption began after US and Israeli strikes on Iran, rattling energy and freight markets and cutting access through what is widely seen as the world’s most critical oil corridor.
Since most major Gulf ports rely on the narrow Strait of Hormuz, the shutdown is weighing on regional trade flows.
Narayan said Jebel Ali, DP World’s main hub in Dubai, has not suffered any infrastructure damage and is operating normally, but inbound vessel arrivals are down. Some cargo is still moving through terminals on the eastern side of the strait, he added.
Ports in the UAE that sit outside Hormuz have limited headroom to absorb the shortfall. Khorfakkan can handle about 5 million 20-foot equivalent units (TEUs) and Fujairah under 1 million TEUs, which Narayan indicated would not be enough to offset lost volume from Jebel Ali or Abu Dhabi’s Khalifa Port.
Jebel Ali alone processed 15.6 million TEUs last year, out of DP World’s 56.1 million TEUs globally.
DP World is rolling out rerouting options and other operational measures to keep supply chains moving. Narayan said the company’s Red Sea assets, such as Jeddah in Saudi Arabia and Sokhna in Egypt, are likely to see increased traffic, though he did not quantify the additional volumes or specify cargo types.
He cautioned that logistical and security risks remain elevated.
Earlier this week, DP World announced record financial results for 2025, with revenue up 22% to $24.4bn and adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) up 18% to $6.4bn, delivering a 26.3% margin, as MEED reported.
DP World said that this performance was driven by strong momentum across its ports and terminals and logistics business.
The group’s gross throughput rose 5.8% to 93.4 million TEUs.
Profit for the year increased 32.2% to $1.96bn, and operating cash flow grew 14% to $6.3bn.
Return on capital employed increased to 9.9% in 2025, up from 8.9% in 2024, reflecting stronger earnings despite ongoing geopolitical and trade uncertainty.
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Frontrunner emerges for Saudi sewage treatment project Administrator13 March 2026
A consortium led by China’s Jiangsu United Water Technology has emerged as the frontrunner for a contract to build and upgrade two sewage treatment plants in Saudi Arabia, according to sources.
The contract covers the North Western A Cluster Sewage Treatment Plants Package 11 (LTOM11), part of the next phase of National Water Company’s (NWC) long-term operations and maintenance (LTOM) sewage treatment programme.
The consortium comprising United Water, Prosus Energy (UAE) and Armada Holding (Saudi Arabia) offered “the lowest tariff” for the project, sources told MEED.
It is understood that Turkey’s Kuzu has made the next-lowest bid.
The development, estimated to cost about $211m, will have a combined capacity of about 440,000 cubic metres a day (cm/d).
In February, MEED exclusively reported that six bidders were competing for the contract.
The other companies that have submitted proposals include:
- Alkhorayef Water & Power Technologies (Saudi Arabia)
- Civil Works Company (Saudi Arabia)
- VA Tech Wabag (India)
- Aguas de Valencia (Spain)
LTOM11, also known as the North Western A Cluster, forms part of the second phase of NWC’s rehabilitation of sewage treatment plants programme.
The scheme is being procured on an engineering, procurement and construction (EPC) basis with a long-term operations component.
The main contract was tendered last year, with an award initially expected by the end of 2025.
It is now understood that NWC is preparing to offer the main contract in the second quarter.
As previously reported, Saudi Arabia’s NWC is also evaluating five bids for package 12 of its long-term operations and maintenance (LTOM12) sewage treatment programme.
Known as the North Western B Cluster, LTOM12 forms part of the second phase of NWC’s rehabilitation of sewage treatment plants programme.
In January, the same United Water-led consortium won the main contract for the Northern Cluster Sewage Treatment Plants Package 10 (LTOM10).
That project includes the rehabilitation and operation of nine sewage treatment plants located across the Hail, Qassim, Al-Jouf and Northern Borders provinces
NWC is also preparing to tender a contract for the construction of 10 sewage treatment plants as part of package 14 of the programme.
The final details of the Eastern A Cluster (LTOM14) package are being finalised, with a tender likely to be issued in March or April, sources told MEED.
READ THE MARCH 2026 MEED BUSINESS REVIEW – click here to view PDFRiyadh urges private sector to take greater role; Chemical players look to spend rationally; Economic uptick lends confidence to Cairo’s reforms.
Distributed to senior decision-makers in the region and around the world, the March 2026 edition of MEED Business Review includes:
> RAMADAN: Data disproves the Ramadan slowdown story> INDUSTRY REPORT: Chemicals producers look to cut spending> INDUSTRY REPORT: Global petrochemical project capex set to rise until 2030> MARKET FOCUS: Egypt’s crisis mode gives way to cautious revival> LEADERSHIP: Delivering Saudi Arabia’s next phase of rail growth> INTERVIEW: Abu Dhabi’s Enersol charts acquisitions pathTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15968035/main.jpg -
Medina tenders Sikkah Al-Hadid PPP project Administrator13 March 2026
Saudi entities including Al-Madinah Regional Municipality, in collaboration with the Ministry of Municipalities & Housing and the National Centre for Privatisation & PPP (NCP), have floated a request for proposal (RFP) notice for the development of the Sikkah Al-Hadid project.
The project will be procured through build-own-operate-transfer contracts with a 50-year duration, using a public-private partnership (PPP) model.
The deadline for bid submission is 23 June.
The project will be located to the west of Medina on an 84,657-square-metre (sq m) site.
It includes a four-storey medical centre with a capacity of up to 200 beds and a shopping mall offering retail, food and beverage, and other entertainment facilities.
In January last year, NCP asked firms to express their interest and prequalify for a contract to develop two mixed-use developments in Medina, which included the Sikkah Al-Hadid project and the Dhul Hulaifah project.
The Dhul Hulaifah project will be built on a 30,112 sq m site located six kilometres from the Prophet’s Mosque.
The development will consist of a four-star hotel integrated with retail and healthcare facilities.
MEED previously reported that Saudi Arabia had announced a P&PPP pipeline comprising 200 projects across 16 sectors.
This pipeline aims to attract local and international investors and ensure their readiness to participate in the schemes tendered to the market.
The initiative comes as the kingdom strives to increase the attractiveness of its economy and raise the private sector’s contribution to GDP.
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Fuel storage facility attacked in Bahrain Administrator13 March 2026
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Fuel storage tanks at a facility on Bahrain’s Muharraq Island were targeted in an attack attributed to Iran, according to a statement from Bahrain’s Interior Ministry.
The ministry put out an alert for people in surrounding neighbourhoods “to remain in their homes, close windows and ventilation openings, as a precautionary measure against possible exposure to smoke”.
Videos of the incident, which took place on 12 March, showed a large fire emitting black smoke. The fire was later extinguished by teams of firefighters.
Bahrain’s international airport is also located on Muharraq Island.
Iran has been firing missiles at a range of targets in nearby countries since it was attacked by the US and Israel on 28 February.
On 11 March, a similar attack on fuel storage tanks in Oman led to the closure of some terminals at the port of Salalah.
Footage recorded by vessel crews at the port, which is the largest in the country, showed explosions and a large fire.
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Bahrain contacts engineering companies over Sitra refinery damage Administrator13 March 2026
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Bahrain’s national oil and gas company Bapco Energies is in touch with international engineering companies about damage done to the Sitra refinery by Iranian strikes, according to industry sources.
In a statement on 9 March, Bapco Energies said its decision to issue the force majeure notice followed “the recent attack on its refinery complex”, without providing details.
Bapco Energies is yet to share full details about the extent of the damage caused to the refinery, sources said.
One source said: “Bapco has been corresponding with several companies with regard to the damage. It is being careful not to share confidential information, but it has reached out.”
Prior to Bapco’s 9 March statement, the Sitra refinery was hit by a strike earlier in the day.
That strike on the Sitra refinery was the second strike on the complex in days.
Iranian missiles hit the facility on 5 March, resulting in parts of the refinery being engulfed in flames.
Iran has been firing missiles at a range of targets in nearby countries since it was attacked by the US and Israel on 28 February.
In November last year, MEED reported that Bapco Energies was in the final stages of ramping up volumes processed by new units that were installed as part of the Bapco Modernisation Programme (BMP).
The project at the Sitra refinery in Bahrain is estimated to have been worth $7bn and was inaugurated by Bahrain’s King Hamad Bin Isa Al-Khalifa in December 2024.
At the time, the companies involved in the engineering, procurement and construction (EPC) contract for the project were still working on the site to assist with efforts to increase volumes.
Bapco Energies awarded the main $4.2bn contract to perform EPC works on the BMP to a consortium led by France’s Technip Energies in February 2018.
The consortium also included Spain’s Tecnicas Reunidas and South Korea’s Samsung E&A.
Technip Energies also performed the project’s front-end engineering and design work. US oil and gas producer Chevron acted as a consultant on the BMP, while Australia-based Worley was the project management consultant.
In March 2024, after a series of setbacks and delays, France’s Total Energies was brought in to support Bapco in “optimising” the project.
The BMP is central to Bahrain’s Vision 2030 economic development strategy, and Bapco has said that it is crucial to boosting the country’s long-term downstream potential.
The BMP was originally expected to reach mechanical completion in 2023, with operations set to begin in 2024.
The core objective of the BMP was to upgrade the Sitra refinery – Bahrain’s only oil refining asset, which is 90 years old.
One of the key units to be built as part of the BMP was a residual hydrocracking unit (RHCU) powered by technology licensed from US-based Chevron Lummus Global. The BMP team has built a two-train RHCU with a capacity of 65,000 barrels a day.
The Sitra refinery includes seven crude distillation units (CDUs) and vacuum distillation units (VDUs) as part of the BMP.
The new 225,000 b/d integrated crude and vacuum unit replaced CDUs 1, 2 and 3 and VDUs 1 and 3, which had served Bapco Energies for over 80 years.
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Italian consultant wins Egypt battery storage contract Administrator13 March 2026
Italy-headquartered consultancy Rina has announced its appointment as owner’s engineer for the 1 gigawatt-hour Nefertiti battery energy storage system (bess) project in Egypt.
The project is being developed by Dubai-based firm Amea Power and is located in the Benban Photovoltaic Industrial Park in Aswan.
The scheme will deploy a 500MW/1,000 megawatt-hour (MWh) utility-scale bess, making it the largest independent energy storage project in Africa.
In March, a group comprising China Energy Engineering International Group, Zhejiang Thermal Power Construction and Southwest Electric Power Design & Research Institute was appointed as the main engineering, procurement and construction contractor.
The $250m project also includes the construction of a 220kV substation, upgrades to an adjacent substation and development of grid network connection infrastructure.
Under the owner’s engineer scope, Rina will deliver engineering design review, construction monitoring and commissioning support. The company will also undertake performance verification.
Egypt’s utilities sector had its strongest year in over a decade in 2025, hitting $5bn in contract awards for the first time since 2015.
Last July, Amea Power commissioned Egypt’s first-ever utility-scale bess.
The 300MWh project had previously reached financial close in June.
The bess project is an extension of Amea Power’s operational 500MW solar photovoltaic plant in Aswan Governorate, which was commissioned in December 2024.
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Oil tankers attacked in Iraqi waters Administrator12 March 2026
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Two tankers carrying Iraqi oil products were set on fire after being attacked in Iraq’s territorial waters near the country’s southern export terminals, increasing concerns about global energy supplies.
After the attack, the country’s Oil Ministry said that it saw the attacks as “a worrying indicator of escalating tensions in a vital area of the global economy and energy supply”.
It added that “the safety and safety of navigation in international sea corridors and energy supply routes should be kept away from regional conflicts”.
The Oil Ministry said the attacks had a direct impact on the stability of the global economy and energy markets, as well as putting the lives of civilians and workers in the maritime transport sector at risk.
Farhan Al-Fartousi, from Iraq’s General Company for Ports, told state television that one crew member had been killed in the attack and that 38 crew members had been rescued.
Iraq’s state-owned oil marketing company Somo said that the Maltese-flagged oil tanker Zefyros was attacked as it was preparing to enter the port of Khor Al-Zoubair, where it would have taken on board an additional 30,000 tonnes of liquid naphtha.
The second targeted vessel, Safesea Vishnu, was sailing under the Marshall Islands flag and was chartered by an Iraqi company, according to Somo.
Iraq’s oil production has fallen steeply since the conflict began, from 3.3 million barrels a day (b/d) to less than 1 million b/d.
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