The slump in prices and surging power demand is spurring demand for liquefied natural gas in the Middle East and North Africa.
Even the UAE, which earlier this year decided to put on hold indefinitely plans to build a huge onshore LNG plant at the Indian Ocean port of Fujairah, instead recently chartered a floating storage and regasification unit (FSRU) from Texas-based Excelerate to meet domestic gas demand.
Throughout the region there are a growing number of such facilities under way or on the drawing board to meet rising demand.
The slump in world seaborne gas prices is a major factor, driven largely by the waves of supply that have hit the market as huge long-term projects came onstream in Australia, Papua New Guinea, the US and elsewhere.
Last year, worldwide gas trade was surpassed only by oil as the most actively traded commodity, and the surplus of supply over demand reached its highest in a decade, according to data from BP.
There have even experimental shipments of LNG from as far afield as the US Gulf coast to buyers in the Arabian Gulf, including delivery to the Jebel Ali LNG facility in Dubai.
“The external conditions are driving Mena LNG demand growth,” said Emma Richards, an analyst at BMI Research, part of Fitch Ratings.
“The fact of the collapse in LNG prices and so much readily available supply has put companies in a position to negotiate favourable long-term supply deals,” she said.
At the same time, buyers have been favouring the more flexible FSRU option, which can be chartered for a five or 10-year period, rather than a multibillion-dollar investment over 20 or 30 years in an onshore facility.
Excelerate confirmed that its namesake FSRU, which moored at Ruwais in Abu Dhabi’s Al Gharbia region earlier this month, was chartered by Gasco – a joint venture between Adnoc, Shell and Total.
The ship has been commissioned initially to take LNG from the Das Island LNG export facility and feed into the UAE grid about 14 million cubic metres a day, or about 7 per cent of last year’s average daily gas demand.
The UAE’s demand for gas grew by nearly two-thirds over a decade to last year’s consumption of 69 billion cubic metres, and although it has slowed it is still forecast to rise at a rate of 5 to 6 per cent a year through 2020.
Domestic supply has been limited as the national oil company, Adnoc, prioritises the use of gas for reinjection into oilfields to enhance production.
Other GCC countries have similar rates of gas demand growth and outside the troubled hotspots like Yemen, Syria and Iraq, even faster rates of growth are expected.
“Egypt has low power consumption per capita and tremendous demand potential,” said Ms Richards. “The country is building out its gas power sector, which will be supported by domestic gas projects, but will nonetheless remain dependent on LNG imports for many years. A third FSRU could be installed, allowing for increased LNG imports.”
Bahrain is expected to install an FSRU at the port of Hidd by 2018 and start importing an increasing amount of LNG over the subsequent decade.
Morocco, Tunisia and Lebanon are also expected to become new LNG markets, BMI Research said.
In Morocco, there is already a proposal for an LNG import facility at Mohammedia, about 30 kilometres east of Casablanca, while Lebanon needs to overcome some political squabbling to greenlight its FSRU plans.
amcauley@thenational.ae
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What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
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Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
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BACK%20TO%20ALEXANDRIA
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TO%20CATCH%20A%20KILLER
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Fighting with My Family
Director: Stephen Merchant
Stars: Dwayne Johnson, Nick Frost, Lena Headey, Florence Pugh, Thomas Whilley, Tori Ellen Ross, Jack Lowden, Olivia Bernstone, Elroy Powell
Four stars
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.