Read the September 2024 MEED Business Review

Region prepares for electric future; Politically grey territory clears path for project progress in Kuwait; Buoyant LNG demand outlook fuels record investment

Electric vehicle (EV) adoption in the GCC is accelerating. The number of EVs on Dubai’s roads rose 72% between year-end 2022 and the end of 2023, suggesting that the city’s obsession with fast and expensive sports cars and fuel-inefficient four-by-fours could soon be just a speck in the rearview mirror.

The September issue of MEED Business Review looks at the future of EVs in the GCC and finds that the region is on the cusp of an EV production boom.

As governments around the region drive forward their sustainable transport policies in line with their goals of reducing carbon emissions and transitioning away from fossil fuels, cohesive policies will prove key to smoothing out what has so far been a bumpy road for hybrid and electric vehicles.

This support for greener transportation options, combined with energy and economic diversification programmes and ambitious industrialisation plans, has also spurred major investments in EV production. As of July, in Saudi Arabia and the UAE planned projects related to the construction of manufacturing and assembly plants for hydrogen-powered and EVs have a total combined capacity of close to 400,000 vehicles a year.

In MEED’s latest issue, we also delve into the downstream sector, where China is expected to lead the increasing global demand for liquefied natural gas (LNG) in the coming decade and hydrocarbons producers in the GCC have committed billions of dollars to rapidly expand their LNG production capacities.

Meanwhile, this month’s exclusive 15-page market report highlights Kuwait, where prospects are taking a positive turn as the fiscal deficit is pushing the country towards reforms and the suspension of parliament looks set to ignite the projects market.

In addition, our latest issue is packed with insight and analysis. The team assesses the outlook for the project to expand production facilities at Iraq’s Khor Mor gas field and discovers how security concerns are threatening the prospects of Libya’s oil sector.

This month’s issue also features a round-up of the top 15 stadiums being built or refurbished in Saudi Arabia in preparation for the kingdom’s hosting of football’s Fifa World Cup 2034. We also examine how communication gaps are hindering Saudi gigaprojects and find out what the region can do to successfully navigate the impact of digital currencies on foreign exchange markets.

What’s more, the September issue includes an interview with Diriyah Company’s chief development officer, Mohammed Saad, about legacy building at the Saudi gigaproject.

We hope our valued subscribers enjoy the September 2024 issue of MEED Business Review.