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REGIONAL REPORTMIDDLE EAST


Gulf states


uncertainties aside, the region’s project logisticians have cause for optimism. Large investments are under way in natural gas production, renewable energy, and transport infrastructure, as the Gulf states ramp up their economic diversification programmes aimed at loosening reliance on the petrodollar. Coordinadora, a Spain-based heavy


T


Coordinadora’s value-added business model in the Middle East has helped it secure a foothold in what is a challenging and competitive market.


www.heavyliftpfi.com


transport and engineering specialist, is a relative newcomer to the Middle East project logistics market, having set up shop in the UAE in 2015. According to chief executive Juan Madsen, the company’s bet on the region has paid off – despite entering the market in the midst of the global oil and gas crisis. “Today it is clear to us that we made the


right decision,” he told HLPFI, noting that Coordinadora’s value-added business model, dubbed ‘engineered transport management’ (ETM), helped the foreign firm secure a foothold in what is a challenging and competitive market. “Now all signs seem positive, especially


the extremely clear increase in freight levels, but also governments’ willingness to invest.” For example, he highlighted the Abu Dhabi National Oil Company (ADNOC)


he development of large-scale capital projects in the Middle East Gulf region is often left hanging in the balance by the frantic pace of change. Political and oil price


still buoyant – despite upheavals


It’s been another eventful 12 months in the Middle East, where fast-paced geopolitical events continue to orchestrate twists and turns in global oil prices. The blockade of Qatar – 2017’s headline news – has been overshadowed by the reintroduction of US sanctions on Iran. Sam Whelan reports.


We look quite optimistically to the upcoming year, since many of the projects kept on standby are supposed to start flowing in 2019. – Juan Madsen, Coordinadora


plan to invest USD132 billion in its five-year LNG strategy, while also boosting oil output capacity to 4 million barrels per day (bpd) by 2020. In November, ADNOC announced that it had discovered a further 1 billion barrels in oil reserves and gas totalling 15 trillion cu ft. “We look quite optimistically to the


upcoming year, since many of the projects kept on standby are supposed to start flowing in 2019, and EPC contract awards to


January/February 2019 117


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