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Working towards a common energy-transition goal

28 November 2022

Published in partnership with

In the end, it went right to the wire. Just as it looked like the UN’s 27th Conference of the Parties (Cop27) would conclude without an accord, the weary delegates announced that they had reached a landmark agreement on setting up a fund to help compensate poorer nations for the economic and social destruction caused by climate change. 

The statement, two days after the Sharm el-Sheikh summit’s original 18 November end date, was a culmination of some 30 years of negotiations between developed economies and developing nations. The latter had long argued that the damage they have experienced from global warming should be paid for by richer countries responsible for the crisis in the first place.

Although far from perfect, the global ‘loss and damage’ fund was hailed as an important and symbolic step towards hitting the agreed target of limiting global temperature increases to 1.5C above pre-industrial levels by 2030. It also marked the continuing engagement and collaboration by governments across the globe.

“We rose to the occasion,” said Egypt’s Minister of Foreign Affairs and president of Cop27 Sameh Shoukry. 

“We worked around the clock, day and night, but united in working for one gain, one higher purpose, one common goal. In the end, we delivered. We listened to the calls of anguish and despair.”

Private sector involvement

While Cop27 has been and will continue to be a policy-setting mechanism negotiated at the highest level, companies played a critical role during the conference. 

Firms representing a broad range of sectors, including Vodafone, Microsoft, Boston Consulting Group and Bloomberg, partnered with the event, and many more participated in the main conference and exhibition areas. 

Ultimately, governments understand that the private sector will lead the drive towards net zero. Without corporates worldwide investing in clean energy projects and technology, there is little hope that targets will be reached.

Five consistency points

A key supporter of Cop27 was Siemens Energy. Sharing its expertise through panels covering subjects as varied as the Mediterranean’s North-South Energy Partnership, improving power access in Africa by unlocking its green hydrogen potential, and overcoming the challenges of decarbonisation, the energy technology company played a pivotal role in discussions and thought leadership.

It also participated in the world leader’s summit at a roundtable discussing green hydrogen, reinforcing its positioning of energy transition at the heart of its strategy. 

Before the Sharm el-Sheikh conference, Siemens Energy president and CEO Christian Bruch outlined five points of consistency that his company considers to be unifying elements in the decarbonisation drive.

The first is the acceleration of renewables. Replacing conventional power generation systems with solar, wind, hydro and other forms of renewable energy is essential to reduce greenhouse emissions.

Despite a considerable increase in the overall share of renewables in the past three years on the back of ever-lowering costs and more efficient technology, more must still be done.

For example, the US needs to triple its share of renewable energy as a proportion of the energy mix by 2050 for the energy transition to succeed. The Asia-Pacific region, meanwhile, will have to increase this figure fourfold. 

Regional targets

In the Middle East, every country has now set ambitious targets to increase renewable energy. The likes of Saudi Arabia, Morocco and the UAE are aiming for renewables to account for up to 50 per cent of total production by 2030. To reach these objectives, almost all new power generation projects come in the form of renewables.

However, the impact of greener electricity production could be somewhat offset by continuing demand growth caused by an increasing global population and economic growth. 

In this context, the second point is the requirement for improved energy conservation measures, such as policies to incentivise the electrification of industry and transport. 

Regionally, the industrial electrification of energy-intensive industries is an optimal opportunity to reduce harmful emissions by harnessing electric boilers and/or electricity-based fuels. Future large-scale blue and green hydrogen production will also have a role to play in industrial processes.

Siemens Energy’s third point of consistency is improving electrical efficiency. The increase in renewable energy capacity and the growth in power capacity, in general, require significant investment in transmission and distribution networks. 

This is particularly important in areas such as sub-Saharan Africa, where almost 25 per cent of the population has little to no access to electricity. 

The fourth point covers the requirement to use existing conventional power infrastructure to help bridge the gap between the fossil-fuelled economies of today and the net zero of tomorrow. 

Progress cannot be made in one step alone and requires a gradual transition. In the meantime, existing thermal plants can employ measures such as combined-cycle technology and carbon capture to make them as efficient and environmentally friendly as possible.

The energy transition is the biggest investment programme since the dawn of industrialisation. If governments, business and society work together, energy transition is a massive opportunity

Christian Bruch, Siemens Energy president and CEO

Mineral production

Finally, to achieve all of this, it is necessary to improve supply chains and increase the production of necessary minerals and rare earth metals required in net-zero technologies, such as lithium, nickel, cobalt and chromium. 

Bruch gives the example of a typical electric car, which requires six times more mineral inputs than one powered by an internal combustion engine. He also cites onshore wind plants, which need nine times more than a gas-fired power plant. 

If mineral production is not increased and geographically diversified, there is a risk of future supply bottlenecks.

In the Middle East, a good illustration of this is the potential future supply gap for electrolyser systems, and the anodes and cathodes typically made from metals such as zinc, nickel and lithium. 

MEED estimates that about 75GW of electrolyser production capacity will be required by 2030 to meet the demand for the raft of planned green hydrogen plants in the region alone, compared with a total global output capacity of just 8GW today.

Industrial decarbonisation alliance

All five consistency points make salient arguments. However, they can only be achieved with close cooperation between the private and public sectors. While the former can spearhead and implement the decarbonisation drive, the latter can provide the regulations and incentives to encourage these initiatives. 

The newly formed Alliance for Industry Decarbonization initiated by Siemens Energy and coordinated and facilitated by the Abu Dhabi-based International Renewable Energy Agency (IRENA) is an example of greater collaboration between the public and private sectors. 

The 28-member alliance – which encompasses a range of global energy, renewable, consulting and manufacturing companies – met for the first time during Cop27 to outline its joint vision and implementation plan. Its strategy focuses on six pillars and enablers that tie into the points of consistency: renewables, green hydrogen, bioenergy with carbon capture, utilisation and storage (CCUS), heat process optimisation, human capital and finance.

Only through this kind of stakeholder dialogue can the immense and existential challenges posed by global warming be overcome. Governments or companies acting in isolation will only achieve so much on their own. The points of consistency must be considered as a whole and in unison if the world’s climate objectives are to succeed.

As Bruch says: “The energy transition is the biggest investment programme since the dawn of industrialisation. If governments, business and society work together, energy transition is a massive opportunity. There is no excuse for waiting any longer.”

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  • War undermines business case for Middle East LNG

    13 April 2026

     

    The US and Israel’s conflict with Iran is undermining the business case for Middle East LNG projects by driving up prices, destroying demand for the super-chilled fuel, damaging infrastructure and eroding confidence in the reliability of the region’s suppliers.

    By blocking the Strait of Hormuz, the conflict has removed around 20% of global LNG supply from the market and, for some importers, has effectively doubled prices.

    Dubbed by some analysts “the champagne of fuels”, LNG was already seen as being on the verge of becoming unaffordable for many energy-importing nations prior to the latest conflict.

    The current wave of high prices has exacerbated concerns about LNG price volatility and has already changed the minds of some countries and businesses that were planning to make large investments to facilitate LNG imports.

    If these projects do not go ahead as planned, it could limit future global LNG demand, dimming the long-term outlook for businesses that depend on LNG export revenues.

    As well as facing longer-term demand likely to fall short of previous expectations, LNG operators in the UAE and Qatar are also being hit in the short term as infrastructure has been damaged by Iranian strikes and sales are being blocked by disruptions to shipping through the Strait of Hormuz.

    The lost revenues and ongoing security issues are casting a shadow over major LNG export expansion plans in the GCC, collectively worth more than $35bn, which could now face significant delays.

    Dubbed by some analysts “the champagne of fuels”, LNG was already seen as being on the verge of becoming unaffordable for many energy-importing nations prior to the latest conflict

    Affordability issues

    LNG production stopped in Qatar on 2 March 2026 and QatarEnergy declared force majeure on 4 March, removing around 80 million tonnes a year (t/y) of LNG supply from global markets.

    The North Field East expansion project, currently under construction and expected to add 32 million t/y, was anticipated to start up in November 2026, but could now face considerable delays.

    The project is estimated to be worth $28.8bn, making it the biggest LNG project ever sanctioned

    In a statement released last month, Daniel Toleman, a research director at Wood Mackenzie, said continued disruption to shipping in the Strait of Hormuz lasting five to six months would push annual global LNG supply into a year-on-year decline.

    “Even if supply were maintained at 2025 levels, the market would still face demand destruction in Asia, lower storage injections in Europe, and sustained upward pressure on gas and LNG prices,” he added.

    “Each additional month of disruption removes around 1.5% from annual global LNG availability.”

    Beyond the closure of the strait, Qatar’s LNG business has also been dealt a significant setback by Iranian attacks on infrastructure.

    Saad Sherida Al-Kaabi, QatarEnergy’s CEO and minister of state for energy affairs, said the Iranian strikes had knocked out about 17% of its LNG export capacity, causing an estimated $20bn in lost annual revenue.

    Repairs to damaged assets will sideline 12.8 million t/y of LNG for three to five years, threatening supplies to European and Asian nations, including China and India, according to Al-Kaabi.

    UAE setbacks

    The UAE has also seen significant disruption to its LNG operations, with shipments from its only LNG export terminal, located on Das Island, severely disrupted by the closure of the Strait of Hormuz.

    Although it has not formally declared force majeure, virtually all of its LNG output has been removed from global markets because it has no pipeline or alternative routes for LNG exports.

    The ongoing energy crisis has increased uncertainty about the UAE’s planned $5.5bn LNG export terminal, being developed at the Ruwais industrial complex.

    In recent weeks, the Ruwais industrial complex was targeted by Iran, causing a fire at the site. The location could also face similar shipping problems to the Das Island facility in the future, as it too requires LNG exports to pass through the Strait of Hormuz.

    Oman exports

    With its LNG export terminals located on the country’s northeast coast, Oman’s exports do not require the Strait of Hormuz to be open, and it has escaped most of the negative impacts that have hit the UAE and Qatar.

    However, Oman’s state-owned integrated energy company, OQ, has still been affected by disruption to shipping through the Strait of Hormuz due to its activities as an LNG trader.

    Last month, OQ Trading, the company’s international trading and marketing arm, declared force majeure on LNG shipments to Bangladesh’s state-owned Petrobangla.

    Replacing LNG

    Analysts say the demand destruction now taking place in LNG-importing nations is likely to have a long-term impact on future LNG demand.

    Countries where planned LNG import-related projects have been cancelled or are being reconsidered include Vietnam, China and New Zealand.

    Christopher Doleman, a gas specialist at the Institute for Energy Economics and Financial Analysis (Ieefa), believes that long-term demand for LNG will be eroded by the current crisis.

    “Prior to the war, a lot of countries were already somewhat hesitant to develop new LNG import infrastructure,” he said.

    “There were existing concerns about the high price of LNG and potential volatility, and these concerns have increased significantly since the war began, leading several developers to consider other options, which in some cases include renewables projects.

    “Everybody’s starting to realise that there is something inherently insecure about the LNG supply chain and they don’t want to have to deal with an affordability crisis every four years.”

    On 30 March, China’s state-owned energy company Sinopec said it was terminating a planned LNG import terminal project worth 5.6bn yuan ($820m) and reallocating the money to developing domestic gas resources.

    The company said developing domestic resources was more cost-effective than developing LNG import infrastructure.

    In Vietnam, conglomerate Vingroup has asked the government to allow it to replace a planned $6bn LNG power project – previously set to be the country’s largest – with a renewable energy project, citing surging fuel prices linked to the Middle East conflict.

    US-based GE Vernova, which had been selected to supply gas turbines and generators for the 4.8GW project, was informed of Vingroup’s revised plans in a document sent on 25 March.

    Instead of the LNG-powered plant, Vingroup asked Vietnam’s industry ministry to consider an investment plan for a hybrid renewable energy project combined with a battery energy storage system (bess).

    A bess stores electricity from renewable sources to maximise its use by discharging power during peak demand.

    The document did not specify the type of renewable energy to be used, but estimated the cost of the bess project at around $25bn, saying it would be a viable alternative to the LNG-powered plant if equipped with appropriate transmission infrastructure.

    If Vietnam follows through on its pivot away from LNG towards renewables, it could directly affect future export deals for Qatar, which is currently one of the country’s LNG suppliers.

    Everybody’s starting to realise that there is something inherently insecure about the LNG supply chain and they don’t want to have to deal with an affordability crisis every four years
    Christopher Doleman, Institute for Energy Economics and Financial Analysis

    Second thoughts

    In New Zealand, plans announced last year for a new LNG terminal on the country’s North Island are becoming increasingly uncertain.

    In February, the government shortlisted contractors to build the facility in Taranaki. But on 30 March, Prime Minister Christopher Luxon said the government would only approve the project if the business case made sense.

    “If it doesn’t stack up, we won’t be doing it. Until we see the commercials on it, we’ll make the decision then,” he said.

    Mike Roan, chief executive of New Zealand’s Meridian Energy, said US President Donald Trump’s decision to attack Iran on 28 February had made the project much less likely to go ahead.

    “It feels like the Americans might have put a bazooka, literally, through that proposal,” he said.

    It has been reported that ministers are considering replacing the project with a major hydroelectric power station, which was referred to the country’s fast-track consent panel in the last week of March.

    The future of a planned $3bn project to develop an LNG import terminal and gas power plant in South Africa is also now in doubt after executives delayed the final investment decision (FID).

    Speaking at a conference on 4 March, Oliver Naidu from Netherlands-based Royal Vopak said the company now plans to decide on the $3bn terminal in the first quarter of 2028.

    The power station and regasification complex, slated for development in the Durban area, would have had the capacity to produce 1.0-1.8GW of electricity.

    Nuclear and coal

    In South Korea, Korea Hydro & Nuclear Power (KHNP) restarted unit 2 at its Kori nuclear power plant this month.

    The facility had been offline for three years since its original 40-year operating permit expired in April 2023.

    Commenting on the restart, KHNP president Kim Hoe-Cheon said: “In a situation where energy supply instability persists, the continued operation of nuclear power plants based on safety is an important means of securing national energy security.”

    Across Asia, there has also been a surge in the use of both solar and coal amid high LNG prices.

    In Pakistan, the country’s Power Minister, Awais Leghari, said that the country would pivot away from LNG to focus on domestically produced coal.

    “With a reduction in LNG generation, plants running on locally mined coal will be able to produce more during off-peak hours,” Leghari told Reuters.

    Similar coal ramp-ups are also taking place in Vietnam, the Philippines and Thailand.

    Coleman believes increased use of both coal and renewables could mean LNG’s role in the global energy mix falls short of previous expectations over the coming years.

    “It’s possible that we will see a dual surge – where both renewables and coal use are ramped up,” he said.

    “This is an interesting prospect because it will effectively remove gas as a so-called ‘bridge-fuel’ and we may see the transition progressing more directly to the use of renewables and battery storage, with less of a role for gas than was previously expected.

    “Really, it’s turned out that LNG was just a bridge to volatility and insecurity compared to something like solar, which is very reliable and predictable.”

    Eroded outlook

    The demand destruction in LNG-importing countries driven by the current energy crisis is likely to mean that the long-term market for LNG exports could be significantly smaller than previously thought, negatively impacting LNG producers worldwide.

    Qatar and the UAE are likely to be hit harder than producers in other regions for several reasons.

    Attacks on infrastructure and disruptions to shipping are preventing them from capitalising on the current period of high prices, while producers in other regions are recording windfall profits.

    In addition, dealing with the logistical and financial consequences of the conflict is likely to divert resources away from progressing new projects, pursuing efficiencies and securing future customers.

    Another factor likely to weigh on LNG operators in Qatar and the UAE is the persistence of customer concerns about the reliability of shipping LNG via the Strait of Hormuz.

    This could compel Adnoc Gas and QatarEnergy to sell at a relative discount compared with sellers in other regions, or to increase contractual flexibility.

    It could even push these producers to rethink future projects to diversify export routes. For Qatar, this could take the form of a gas pipeline via neighbouring countries. For the UAE, one option could be developing an LNG terminal on the other side of the Strait of Hormuz, reducing reliance on the bottleneck controlled by Iran.

    While the current conflict is a major setback for LNG operators in the UAE and Qatar, once the Strait of Hormuz reopens and security risks diminish, it is likely that exports will ramp up relatively quickly and former clients will return.

    However, questions remain about when this will happen. If safe passage for LNG tankers can be secured within days or weeks, the long-term impact is likely to be limited.

    If disruption continues for longer, it could transform the outlook for the Middle East’s LNG sector for years to come.

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    Wil Crisp
  • Qiddiya high-speed rail bidders get more time

    13 April 2026

     

    Saudi Arabia’s Royal Commission for Riyadh City, in collaboration with Qiddiya Investment Company (QIC) and the National Centre for Privatisation & PPP, has set a new deadline of 30 April for firms to submit prequalification statements for the public-private partnership (PPP) package of the Qiddiya high-speed rail project in Riyadh.

    The deadline for the engineering, procurement, construction and financing (EPCF) package remains unchanged at 16 April.

    The prequalification notice was issued on 19 January.

    The clients invited interested firms to a project briefing session on 23 February at Qiddiya Entertainment City.

    The Qiddiya high-speed rail project will connect King Salman International airport and the King Abdullah Financial District (KAFD) in Riyadh with Qiddiya City.

    Also known as Q-Express, the railway line will operate at speeds of up to 250 kilometres an hour, reaching Qiddiya in 30 minutes.

    The line is expected to be developed in two phases. The first phase will connect Qiddiya with KAFD and King Khalid International airport.

    The second phase will start from a development known as the North Pole and travel to the New Murabba development, King Salman Park, central Riyadh and Industrial City in the south of Riyadh. 

    In November last year, MEED reported that more than 145 local and international companies had expressed interest in developing the project.

    These included 68 contracting companies, 23 design and project management consultants, 16 investment firms, 12 rail operators, 10 rolling stock providers and 16 other services firms.

    In November 2023, MEED reported that French consultant Egis had been appointed as the technical adviser for the project.

    UK-based consultancy Ernst & Young is acting as the transaction adviser on the project. Ashurst is the legal adviser.

    Qiddiya is one of Saudi Arabia’s five official gigaprojects and covers a total area of 376 square kilometres (sq km), with 223 sq km of developed land. 

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    Yasir Iqbal
  • Jordan sets market briefing for Amman water PPP

    10 April 2026

    Jordan’s Ministry of Investment, through its Public-Private Partnership Unit (PPPU), has announced a public information session for the South Amman non-revenue water (NRW) reduction PPP project.

    The session will be held on 15 April and is being organised in collaboration with the Ministry of Water & Irrigation and Miyahuna, according to a notice published by the PPPU. 

    The project covers the southern and southeastern areas of Amman and aims to reduce water losses and improve the efficiency of the capital’s distribution network.

    According to the ministry, the scheme will serve about 1.4 million people across 17 zones and forms part of Jordan’s wider National Water Strategy. 

    The planned market briefing is intended to provide early detail on the project’s PPP structure, procurement pathway and performance-based contracting model.

    It is also expected to outline the project’s risk allocation and bankability framework to prospective investors, operators and infrastructure companies.

    The Ministry of Investment opened prequalification for the scheme in March.

    Qualified companies and consortiums have been invited to participate in a two-stage procurement process for the performance-based contract. 

    The project aims to reduce NRW levels to 25% by 2040, while modernising and expanding the existing network using smart technologies and advanced leak detection systems. 

    The original deadline was 23 April. That has since been extended to 12 May.

    Jordan is among the most water-scarce countries in the world, and losses from distribution networks are estimated to account for about 45% of water supplied.

    The country is also advancing its $6bn Aqaba-Amman water desalination and conveyance project that aims to meet about 40% of Jordan’s municipal water demand by 2040.

    As MEED recently reported, the project is nearing financial close. Once complete, it will supply about 300 million cubic metres of potable water a year from the Red Sea to Amman and other regions.

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    Mark Dowdall
  • OQ allows more time for natural gas liquids project proposals

    10 April 2026

     

    Omani state energy conglomerate OQ Group has allowed contractors more time to prepare proposals for a major project to build a natural gas liquids (NGL) facility in the sultanate.

    The planned NGL facility will extract condensates in Saih Nihayda in central Oman and transport those volumes to Duqm, located along the sultanate’s Arabian Sea coastline, for fractionation and export, OQ Group has said.

    OQ Group intends to deliver the project using a front-end engineering and design (feed)-to-engineering, procurement and construction (EPC) competition model.

    The state enterprise issued the main tender for the feed-to-EPC competition “earlier in March”, setting an initial deadline of 8 April for contractors to submit proposals, MEED previously reported. The deadline has now been extended to 6 May, according to sources.

    MEED previously reported that OQ had started the prequalification process for the feed-to-EPC contest for the planned NGL project in November last year, with contractors submitting responses by 15 December.

    The following contractors, among others, are understood to have been invited to participate in the feed-to-EPC contest for OQ’s planned NGL project, sources told MEED:

    • Chiyoda (Japan) / CTCI (Taiwan)
    • G S Engineering & Construction (South Korea)
    • Hyundai Engineering & Construction (South Korea) / KBR (US)
    • JGC Corporation (Japan)
    • Kent (UAE)
    • Petrofac (UK)
    • Saipem (Italy)
    • Samsung E&A (South Korea) / Larsen & Toubro Energy Hydrocarbon (India) / Wood (UAE)
    • Technip Energies (France)
    • Tecnicas Reunidas (Spain)
    • Tecnimont (Italy)

    The scope of work on the project covers the development, verification and integration of feed deliverables for the following facilities and systems:

    • NGL extraction facility – Saih Nihayda:
      • Verification and updating of the existing feed to enable dual-mode operation (ethane recovery and ethane rejection).
      • Identification and implementation of required process, equipment, utilities, and control system modifications.
         
    • NGL Pipeline – Saih Nihayda to Duqm:
      Feed for a new approximately 230km NGL transmission pipeline, including routing, hydraulics, stations, pigging facilities, metering, corrosion protection, leak detection, and safety systems.
       
    • Fractionation unit at Duqm:
      • Feed for a new fractionation facility to process ethane and propane + NGL and recover propane, butane, condensate, and provision for future ethane recovery.
      • Design accommodating licensed or open-art technology and future tie-in to a planned petrochemical project in Duqm.
         
    • Product pipelines, storage and export facilities at Duqm jetty:
      • Feed for product pipelines, cryogenic and atmospheric storage tanks, vapour recovery systems, marine loading arms, and export facilities.
      • Integration with existing port and refinery infrastructure, where feasible.
         
    • Supporting systems and studies:
      Utilities, offsites, flare systems, safety and environmental studies, cost estimates (class 2+10%), project schedules, constructability assessments, and EPC tender documentation.
    Natural gas liquids projects

    Gulf national oil companies have been allocating significant capital expenditure to building or expanding NGL production facilities.

    QatarEnergy, in September last year, awarded the main EPC contract for its project to add a fifth NGL train at its fractionation complex in Qatar’s Mesaieed Industrial City. The aim of the project, which is estimated to be worth $2.5bn, is to build a fifth NGL train (NGL-5) with the capacity to process up to 350 million cubic feet a day of rich associated gas from QatarEnergy’s offshore and onshore oil fields.

    The main EPC contract for the QatarEnergy NGL-5 project was won by a consortium of India’s Larsen & Toubro Energy Hydrocarbons Onshore and Greece-headquartered Consolidated Contractors Group.

    Separately, the gas processing business of Abu Dhabi National Oil Company (Adnoc Gas) has also selected the main contractor for a project to install a fifth NGL fractionation train at its Ruwais gas processing facility in Abu Dhabi.

    The fifth NGL fractionation train will have an output capacity of 22,000 tonnes a day, or about 8 million tonnes a year.

    The Ruwais NGL Train 5 project represents the second phase of Adnoc Gas’ ambitious Rich Gas Development (RGD) programme, and its budget value is estimated to be around $4bn, Peter Van Driel, Adnoc Gas’ chief financial officer, confirmed in February. The company expects to achieve final investment decision on the project within the first quarter of 2026, Van Driel said at the time.

    ALSO READ: PDO awards Oman gas plant expansion project
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    Indrajit Sen
  • Masdar’s move abroad will not be the last

    10 April 2026

    Commentary
    Mark Dowdall
    Power & water editor

    Masdar’s new joint-venture agreement with France’s TotalEnergies will not be the last time we see regional energy investors use strong balance sheets and domestic growth to build larger positions overseas.

    For Masdar in particular, the deal broadens its international exposure at a time when investors are asking questions about the Middle East’s geopolitical risk.

    By combining portfolios, the two companies start with 3GW of operational capacity and another 6GW in advanced development.

    The deal covers nine Asian countries, reflecting a prudent strategy that spreads capital across markets with different risk profiles and growth trajectories.

    In Kazakhstan, which already includes 2.6GW of assets under development, there is clear logic behind this move.

    The country is expected to see a significant increase in renewable generation over the next decade, supported by strong wind resources and the availability of large land areas for utility-scale developments.

    There is also a practical advantage in partnering with TotalEnergies, which already has project delivery experience and an established presence in several of these markets.

    The US-Iran ceasefire announced on 8 April has brought some respite to energy infrastructure stakeholders in the region.

    For investors and developers, however, the long-term uncertainty remains. Until there is clear evidence of regime change, the removal of sanctions or lasting peace in the region, the outlook will be less clear.

    With uncertainty one of the biggest killers of investor confidence, many will now be looking at this agreement and thinking whether they should also follow suit.

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
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    Mark Dowdall