The GCC natural gas market is forecasted to grow to $79.35bn by 2032, expanding at a CAGR of 4.5%.

Its growth will be driven by burgeoning domestic demand, the need to achieve self-sufficiency, and reinforcing energy security, according to Future Market Insights. 

Shifting regulatory policies toward energy transition and sustainable energy sources, driven by integrated energy considerations, will also spur growth.

Saudi Arabia - where natural gas production in the Kingdom has risen from 99.5 bcm in 2015 to 113 bcm in 2020 - is projected to grow 3.3%, at a CAGR of 5.6% during the forecast period, fuelled by Aramco which has annnounced an additional $7bn investment. 

Aramco and the SABIC Agri-Nutrients Company recently received the world’s first independent certifications recognising blue hydrogen and ammonia production.

The certifications were granted by TÜV Rheinlan to SABIC AN, in Jubail, for 37,800 tonnes of blue ammonia and to Aramco’s wholly-owned refinery (SASREF), also in Jubail, for 8,075 tonnes of blue hydrogen. Saudi is aiming to be net zero by 2060.

Qatar, also predicted to grow at the same compound rate, remains a hive of activity in the offshore and LNG sectors.

Last month McDermott International won a Front-End Engineering Design (FEED) contract by QatarEnergy for the North Field South (NFS) Offshore Pipelines and Power/FO cables Project. The new contract is in addition to the awards received by McDermott this year for the NFS Jackets and Topsides and Pipelines for the North Field Expansion Project (NFXP).

Air Products has been awarded the contract to supply four end flash coil wound heat exchangers (CWHE) for the North Field East LNG Project in Ras Laffan Industrial City, Qatar.

One of the end flash CWHE’s will be used with each of the four AP-X® LNG Process trains previously announced and already being built by Air Products for Chiyoda Corporation and Technip Energies, who are constructing the LNG process trains for QatarEnergy.

The UAE’s Energy Strategy 2050 strives to reduce the carbon emissions of power generation by 70% while boosting the percentage of clean energy in the net energy mix from 25% to 50% by 2050.

According to the 2017 BP Energy Outlook, energy consumption in the Gulf region is expected to rise by 54% by 2040, with natural gas accounting for more than 60% of the increase. The industry landscape will be stimulated by the rising demand for clean fuel from power plants and the desalinisation industry.

Industrialisation and Energy Services Company and the shareholders of Al Mansoori Petroleum Services have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’s Well Services business from Saudi Arabia to the wider MENA region. The transaction is expected to close in the fourth quarter of 2022.

Other developments have seen Italy’s Saipem win a $750m engineering, procurement, and construction contract from Saudi Aramco for work on several kilometres of pipeline required for the Jafurah gas project.

Streamline Innovations Inc. (Streamline) and Zamil Group Trade & Services (Zamil), a trading company and supplier to the energy sector, announced a partnership in January to market and deploy Streamline’s hydrogen sulfide (H2S) treatment solutions in Saudi Arabia. Zamil will act as Streamline’s agent in the country.