QatarEnergy to resume full LNG production ‘within a few weeks’
QatarEnergy expects to restore normal production of liquified natural gas from facilities that were not damaged in the Iran war.
“QatarEnergy is preparing for operations to come back to normal as soon as the situation in the [Strait of Hormuz] normalizes,” Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman al-Thani told the Financial Times, adding “within a few weeks.”
The Prime Minister said that establishing a hotline between the U.S. and Iran was essential to prevent rogue actors from impeding the reopening of the strait.
QatarEnergy suspended output four days after the U.S. and Israel launched strikes on Iran on Feb. 28, following a drone attack on the Ras Laffan LNG plant, then declared force majeure on its contracts.
It faced a further setback this week when an explosion at one of its facilities killed 13 people and injured dozens more.
Thales advances Mideast strategy with Saudi defense projects
French defense and technology giant Thales is advancing plans to deepen its footprint in Saudi Arabia through a radar production facility and expanded cooperation with Saudi Arabian Military Industries.
The goal, Pascale Sourisse, senior executive vice-president of international development at Thales, told The National, is to bolster the kingdom’s air defense capabilities and contribute to its broader strategy of localizing military production and becoming a global defense supply chain player.
This partnership aligns with Saudi Arabia’s Vision 2030 ambitions, aiming to reduce dependence on foreign suppliers, create skilled jobs for Saudis, and boost domestic technical expertise.
With military spending reaching over $80 billion in 2024, Saudi Arabia remains a key market for Thales’ long-term growth and innovation in defense technologies, Sourisse said.
While focusing on the kingdom, Thales is also pursuing plans to establish an AI research center in Abu Dhabi, marking its first such hub in the Middle East.
UAE’s Agthia opens $24.5 million meat plant in Saudi Arabia
Abu Dhabi food and beverage group Agthia has opened a meat processing facility in Jeddah, Saudi Arabia’s second-largest city, as the kingdom looks to feed its growing population and the broader region pushes for greater food security.
The $24.5 million factory, located in Jeddah’s Industrial City 1, spans 9,000 square meters and is expected to produce over 9,000 tons of processed proteins – enough to export to more than 25 countries.
Agthia, which is owned by Abu Dhabi sovereign wealth fund ADQ, is in the midst of a five-year growth strategy in its push to become one of the region’s top food and beverage companies
DP World to build ‘world’s largest’ car market in Dubai
Dubai is planning to build what its leaders describe as the world’s largest and most advanced car market.
Officials signed a contract with DP World on Thursday to build and manage a 20 million square-foot facility connected to 77 international ports that is expected to generate an estimated $3.8 billion in sales.
“The new market will become a global hub that offers commercial services and logistics and financing solutions” for the automobile industry,” Sheikh Mohammed bin Rashid, Ruler of Dubai and the UAE’s Vice President and Prime Minister, said in a statement released on Thursday.
The new compound – eight times the size of the city’s current car market – will enable buying, selling, registration and banking within its domain.
It will also host major conferences and events for the international automotive industry.
