Energies Media
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise
  • Contact
No Result
View All Result
Energies Media
No Result
View All Result

Gulf Energy Ambitions Boost Global Shipbuilding

by Energies Media Staff
June 8, 2020
in Downstream, News, Oil and Gas News, Transportation
Gulf energy ambitions boost global shipbuilding
Tungsten mega deposit

A Critical Mineral at a Critical Moment: The Importance of Restoring Domestic Tungsten Production in the U.S.

September 2, 2025
A Revolutionary Way to Understand Energy Customers

A Revolutionary Way to Understand Energy Customers

September 1, 2025

Regional energy companies are investing to consolidate their oil and gas market share over the long term. The race among Gulf national oil companies (NOCs) to establish global energy supremacy has ushered in a boom period for the shipbuilding industry, according to MEED, part of GlobalData.

Saudi Arabia’s maritime needs are set to grow considerably as the kingdom prepares to boost its global oil market share and become a net exporter of natural gas. With regional NOCs looking to consolidate their oil and gas market share, their long-term need for transport vessels has grown exponentially. This spurt in demand has in turn led Gulf NOCs to make significant shipping investments, providing key impetus to the maritime industry.

Saudi Aramco is leading a joint venture of international shipbuilding and offshore energy firms to build the world-class King Salman International Complex for Maritime Industries & Services in Ras al-Khair, located in the kingdom’s Eastern Province.

InventU

Aramco holds the majority 50.1% stake in IMI, with Saudi Arabia’s Bahri holding a 19.9 stake and international partners UAE/UK-based Lamprell and South Korea’s Hyundai Heavy Industries (HHI) – the world’s largest shipbuilder – holding stakes of 20% and 10%, respectively. These partners are understood to have invested $5.2bn in building the Ras al-Khair scheme.

Indrajit Sen is the Oil & Gas Editor at MEED, part of GlobalData, comments: “Activities critical to Saudi Aramco’s operations, including shipbuilding, rig manufacturing and fabrication related to offshore drilling and shipping activities, are all expected to be carried out at the development.”

With an area of 11.4 million square metres, the King Salman complex will have the world’s largest ship lift; the world’s largest combined lift capability over a drydock, at 2,150 tonnes; and the largest total drydock area and quayside in the Middle East and North Africa region. The yard is designed to have the capacity to manufacture four offshore rigs and more than 40 vessels, including three very large crude carriers (VLCC), and to service more than 260 vessels annually.

Qatar Petroleum (QP) has launched a $19bn liquefied natural gas (LNG) vessel building program, supposedly the largest-ever campaign of its kind, as the state enterprise looks to reclaim and hold on to the top global LNG exporter position in the long term.

QP on 1 June signed agreements with Daewoo Shipbuilding & Marine Engineering (DSME), Hyundai Heavy Industries (HHI) and Samsung Heavy Industries (SHI) – the ‘big three’ South Korean shipyards – to reserve a major portion of their LNG vessel construction capacity through 2027.

QP previously signed a $2.86bn contract with government-owned China State Shipbuilding Corporation (CSSC) for the construction of LNG carriers at its Hudong-Zhonghua Shipbuilding unit in Shanghai.

Sen adds: “QP’s LNG production capacity is set to increase from 77.5 million tonnes a year (t/y) currently to 126 million t/y in two phases by 2028, by virtue of its $20bn-plus North Field Expansion (NFE) megaproject.

“The state enterprise is therefore looking to reserve 60% of the world’s LNG shipbuilding capacity to build more than 100 vessels, in order to be able to export the increased LNG production volumes from the NFE scheme.”

Author Profile
Energies Media Staff
Website
Author Articles
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
    August 26, 2025
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    E-Fuels
    August 13, 2025
    2nd Annual World E-Fuels Summit
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    What Happens to Solar and Wind Systems During Natural Disasters?
    August 6, 2025
    What Happens to Solar and Wind Systems During Natural Disasters?
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ship on body of water at night
    August 1, 2025
    Industry leaders to speak at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference 2025
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
    July 31, 2025
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Europe Nuclear Energy & SMR Conference (ENES2025)
    July 31, 2025
    Europe Nuclear Energy & SMR Conference (ENES2025)
TAMU

In This Issue

Energies Media Summer 2025

ENERGIES Media (Summer 2025)


Maximizing Clean Energy Tax Credits Under the Inflation Reduction Act


Bringing Safety Forward in Offshore Operations


U.S. Oil Refineries Face Critical Capacity Test Amid Rising Demand


NeverNude Coveralls: A Practical Solution for Everyday Dignity


Why Energy Companies Need a CX Revolution


Meeting Emergency Preparedness and Response Criteria


The Hidden Value in Waste Oil: A Sustainable Solution for the Future


Energies Media Interactive Crossword Puzzle – Summer 2025


Dewey Follett Bartlett, Jr.: Tulsa’s Champion of Independents


ENERGIES Cartoon (Summer 2025)


How to Deploy Next-Gen Energy Savers Without Disrupting Operations


Moving Energy Across Space and Time


Letter from the Managing Editor (Summer 2025)

InventU
Gastech
  • Terms
  • Privacy

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • 3 Ways Technology is Going to Shape the Oil and Gas Industry
  • About Us
  • Advanced Technologies in Renewable Energy
  • Advertise
  • Cartoons
  • Case Studies in the Digital Transformation of Renewable Energy
  • Contact
  • Contributors
  • Digital Transformation Framework for Oil and Gas Operations
  • Digitalization and Smart Technologies in Oil and Gas
  • Digitalization and Smart Technologies in Renewable Energy Operations
  • Energies Digital Magazine
  • Energies Media
  • Energies Media Digital Magazine
  • Energies Media Magazine
  • Energies Media Magazine Archive
  • Energy Industry Events
  • Energy Markets Dashboard
  • Future Trends in Renewable Energy Technology
  • How Real-life Data Guides the Agility of Oil and Gas Companies
  • Navigating Careers in Oil and Gas
  • Navigating Careers in Renewable Energy
  • Newsletter
  • Oil & Gas Prices
  • Oilman Digital Magazine
  • Oilwoman Digital Magazine
  • Organizer Dashboard
    • Event Organizers
    • Submit Organizer Form
  • Press Releases
  • Prices & Marketcap
  • Privacy Policy
  • Puzzles
  • Quizes
  • Subscribe
  • Subscription Account
    • Access Restricted
    • Log In
    • Subscription Billing
    • Subscription Cancel
    • Subscription Checkout
    • Subscription Confirmation
    • Subscription Invoice
    • Subscription Levels
    • Your Profile
  • Team
  • Terms of Service
  • US Energy Media Kit
  • Venue Dashboard
    • Event Venues
    • Submit Venue Form
  • Webinars
  • Your Complete Guide to Essential Oil & Gas Industry Software

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.