The rising importance of natural gas as an energy transition fuel has led to strong growth in its demand worldwide.

Global liquefied natural gas (LNG) demand is expected to leap by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and countries in south and southeast Asia use more LNG to support their economic growth.

Gulf players are keen to cater to this growing demand and dominate the global supply market, fuelling a wave of investment in large-scale production-boosting projects and terminal construction schemes worth billions of dollars each.

The best example is the $7.7bn of engineering, procurement and construction contracts awarded by Saudi Aramco in early April to expand the Fadhili gas plant.

In the latest issue of MEED Business Review, MEED's oil and gas editor Indrajit Sen discusses the steps the region is taking to cement its position as the world’s largest LNG supplier.

We also look at how regional LNG producers are safeguarding their project investments by winning deals with international customers.

Meanwhile, this month's exclusive 17-page market report highlights the UAE, where resilient non-oil growth is outshining oil sector weakness and regional troubles – for now.

MEED's latest issue is packed with insight and analysis. The team considers the worldwide impact of the Iranian attack on Israel; examines the setbacks in Algeria's oil sector; looks at the overdue progress on oil mergers in Kuwait; and brings readers up to date on Iraq's projects market. We also discuss why negative growth at home is expected to fuel South Korean contractors’ appetite for work in Saudi Arabia.

This month's industry report features MEED's GCC construction contractor ranking for 2024. Using data from regional projects tracker MEED Projects, the ranking – which is topped by Nesma & Partners with $14.7bn of work at the execution stage – reveals a major change in construction activity in the GCC over the past year. 

The May issue includes an interview with Omar Abduljabbar, CEO of Hail Region Development Authority, in which he reveals why Saudi Arabia's northwestern region of Hail is expected to become a key destination for tourism and investment in the coming years. We also talk to Etihad Water & Electricity chief executive Yusuf Al Ali about providing water and power with the lowest carbon possible in the UAE's northern emirates.

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

Must-read sections in the May 2024 issue of MEED Business Review include:

> AGENDA: Region boosts LNG spending; Gulf players secure future of LNG projects

> CURRENT AFFAIRS: ​Algerian downstream sector faces setback; Progress on Kuwait oil mergers is overdue; Iranian attack on Israel rattles globe

> SOUTH KOREA: South Korean appetite for Saudi projects grows

> IRAQ: Iraq remains tough to sell

> INTERVIEWS: Saudi Arabia's Hail capitalises on heritage; Northern emirates’ energy transition gathers pace

> GAS SPENDING: Aramco in hot pursuit of 2030 gas production goal

> UAE MARKET REPORT:

> COMMENT: UAE rides high on non-oil boom
> GVT & ECONOMY: Non-oil activity underpins UAE economy
> BANKING: UAE banks seize the moment
> UPSTREAM: Adnoc oil and gas project spending sees steep uptick
> DOWNSTREAM: UAE builds its downstream and chemical sectors
> POWER: UAE marks successful power project deliveries
> WATER: Dubai tunnels project dominates UAE pipeline
> DUBAI CONSTRUCTION: Dubai real estate boosts construction sector
> ABU DHABI CONSTRUCTION: Abu Dhabi makes major construction investments

> MEED COMMENTS: 
> Gulf of Aqaba moves beyond Instagram
> Net zero steps need recalibration
> Flooding spotlights Dubai construction
> Funding impacts Saudi projects

> GULF PROJECTS INDEX: Saudi market returns to growth

> MARCH 2024 CONTRACTS: Iran gas contract boosts value of deals signed

> MARKET SNAPSHOT: Mena data centre projects

> OPINION: Rainmaking in the world economy

> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts