Global Energy Forecast for Gas, From LNG Swing Producer Qatar - Bloomberg
Natural gas markets could whipsaw for the next several years because there’s still too little supply to meet rising demand, according to the energy minister of Qatar.
“It’s going to be a volatile situation for some time to come,” Saad al-Kaabi said at an Atlantic Council conference in Abu Dhabi. “We’re bringing a lot of gas to the market, but it’s not enough.”
Next winter may be tough for gas consumers in the northern hemisphere, he said, as they will probably struggle to replenish their stockpiles before then in the absence of flows from Russia.
Gas prices soared after Russia invaded Ukraine last February and Moscow cut piped supplies to Europe. Prices have slumped since the middle of 2022 as economies slowed and thanks to Europe ramping up imports of liquefied natural gas, including from Qatar. A warmer-than-normal winter in Europe has also helped.
Saturday 14 January 2023
BBC iPlayer - Billion Dollar Downfall: The Dealmaker - #Abraaj #ArifNaqvi
BBC iPlayer - Billion Dollar Downfall: The Dealmaker
He was welcomed at the White House, met billionaires like Bill Gates and counted cricket legend Imran Khan as a friend. Silent since his 2019 dawn arrest at Heathrow Airport, tycoon Arif Naqvi is now seen and heard for the first time.
He called himself the ‘flag carrier of impact investing’ - the idea that you can get rich while doing good. Naqvi’s $14bn firm Abraaj invested across the developing world, improving businesses and building hospitals.
Then it collapsed - the world’s biggest-ever private equity failure. Now accused of fraud and racketeering, Naqvi maintains his innocence but, if found guilty, faces 291 years in jail. So what went wrong?
In a fresh examination of the meteoric rise and dizzying fall of Abraaj and Arif Naqvi, key figures speak out. And personal videos of Naqvi give a glimpse into his three-year-long house arrest.
This turbulent tale leaves viewers asking whether it really is possible to deliver profit while doing good.
He called himself the ‘flag carrier of impact investing’ - the idea that you can get rich while doing good. Naqvi’s $14bn firm Abraaj invested across the developing world, improving businesses and building hospitals.
Then it collapsed - the world’s biggest-ever private equity failure. Now accused of fraud and racketeering, Naqvi maintains his innocence but, if found guilty, faces 291 years in jail. So what went wrong?
In a fresh examination of the meteoric rise and dizzying fall of Abraaj and Arif Naqvi, key figures speak out. And personal videos of Naqvi give a glimpse into his three-year-long house arrest.
This turbulent tale leaves viewers asking whether it really is possible to deliver profit while doing good.
#Qatar targets the Premier League after World Cup success | Financial Times
Qatar targets the Premier League after World Cup success | Financial Times
Winning last month’s World Cup final cemented Lionel Messi’s place as the greatest footballer of his generation.
Winning last month’s World Cup final cemented Lionel Messi’s place as the greatest footballer of his generation.
But the thrilling match, arguably the greatest final in history, was also a victory for host Qatar. Before Messi lifted the trophy for Argentina, Kylian Mbappé of France scored the first hat-trick in a final since 1966. Both play for Qatari-owned Paris Saint-Germain.
With the prestigious sporting event over, Qatar is seeking to keep momentum behind its push into sport, as the tiny desert state moves to diversify its economy away from oil and gas, further its soft power reach and burnish its credentials as investor.
One option now under consideration is an investment in the English Premier League. Qatar Sports Investments, the state-backed entity that bought PSG in 2011, recently held tentative talks with Tottenham Hotspur, according to a person familiar with the matter, although those at the London-based club denies it has discussed the sale of an equity stake.
#Dubai's Majid Al Futtaim Replaces CEO Alain Bejjani - Bloomberg
Dubai's Majid Al Futtaim Replaces CEO Alain Bejjani - Bloomberg
Dubai-based property and retail conglomerate Majid Al Futtaim Holding LLC abruptly ousted Alain Bejjani, a high-profile executive who’s led the firm since 2015, in a shakeup just over a year after the death of its eponymous founder.
Ahmed Galal Ismail is now the chief executive officer, the company said in a statement, without elaborating on the reasons behind the move. Ismail has been head of the group’s property unit since 2018 and was responsible for its shopping malls, hotels, communities and project management operations. He also previously led the firm’s ventures business.
The group is among the country’s biggest employers and of strategic importance to its food security. Bejjani was one of the most visible executives in Dubai, frequently appearing on TV and a regular at Davos. In December, he posted a photo on Instagram with the ruler of Dubai.
Majid Al Futtaim has long been seen as an anchor of Dubai’s economy. The company controls $16.5 billion in assets including a renowned indoor ski hall, the opulent Mall of the Emirates and the Carrefour hypermarket franchise in the Middle East. It has activities in 17 countries, extending into Africa. Investors also hold some $3.7 billion in corporate debt.
Following its billionaire founder’s death in December 2021, the ruler of Dubai appointed a special judicial committee to oversee any potential disputes — a relatively rare occurrence reserved for high-profile cases.
Ahmed Galal Ismail is now the chief executive officer, the company said in a statement, without elaborating on the reasons behind the move. Ismail has been head of the group’s property unit since 2018 and was responsible for its shopping malls, hotels, communities and project management operations. He also previously led the firm’s ventures business.
The group is among the country’s biggest employers and of strategic importance to its food security. Bejjani was one of the most visible executives in Dubai, frequently appearing on TV and a regular at Davos. In December, he posted a photo on Instagram with the ruler of Dubai.
Majid Al Futtaim has long been seen as an anchor of Dubai’s economy. The company controls $16.5 billion in assets including a renowned indoor ski hall, the opulent Mall of the Emirates and the Carrefour hypermarket franchise in the Middle East. It has activities in 17 countries, extending into Africa. Investors also hold some $3.7 billion in corporate debt.
Following its billionaire founder’s death in December 2021, the ruler of Dubai appointed a special judicial committee to oversee any potential disputes — a relatively rare occurrence reserved for high-profile cases.
#Qatar, #UAE energy ministers say gas will be needed for long time | Reuters
Qatar, UAE energy ministers say gas will be needed for long time | Reuters
The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, energy ministers of Qatar and the United Arab Emirates said on Saturday.
Saad al-Kaabi, Qatari state minister for energy, told the Atlantic Council Global Energy Summit that a mild winter in Europe had seen prices come down, but that volatility would remain "for some time to come" given that there was not much gas coming into the market until 2025.
"The issue is what's going to happen when they (Europe) want to replenish their storages this coming year and the next year," he said, adding that energy producers were concerned about demand destruction.
Qatar is one of the world's top producers of liquefied natural gas. The UAE is an OPEC oil producer that is sharpening its focus on the gas market as Europe seeks to replace Russian energy imports after supply cuts since Western sanctions were imposed on Moscow over its invasion of Ukraine.
The world will need natural gas for a long time and more investment is required to ensure supply security and affordable prices during the global energy transition, energy ministers of Qatar and the United Arab Emirates said on Saturday.
Saad al-Kaabi, Qatari state minister for energy, told the Atlantic Council Global Energy Summit that a mild winter in Europe had seen prices come down, but that volatility would remain "for some time to come" given that there was not much gas coming into the market until 2025.
"The issue is what's going to happen when they (Europe) want to replenish their storages this coming year and the next year," he said, adding that energy producers were concerned about demand destruction.
Qatar is one of the world's top producers of liquefied natural gas. The UAE is an OPEC oil producer that is sharpening its focus on the gas market as Europe seeks to replace Russian energy imports after supply cuts since Western sanctions were imposed on Moscow over its invasion of Ukraine.