5 Top Points
- Saudi Arabia’s NEOM confirmed plans to build a luxury project, Aquellum, on the Gulf of Aqaba coastline.
- The Kuwait Foreign Petroleum Exploration Company (KUFPEC) completed the sale of the Norway assets.
- Germany’s Vice Chancellor went on a three-day tour to Oman, Saudi Arabia, Israel, and the West Bank.
- The EU High Representative discussed Gaza and Red Sea security with officials in Lebanon and Saudi Arabia.
- UAE’s President met with India’s Prime Minister in Ahmedabad.
‘Round and About the Gulf
Kingdom of Bahrain
Monday, 8 January – The 2nd Sustainability Forum Middle East, held under the patronage of Bahrain’s Minister of Oil and Environment and Special Envoy for Climate Affairs, took place in Manama. The Forum, which focused on ‘Achieving Net Zero-Pathways to Accelerating Implementation,’ gathered 350 business leaders from around the world, including Australia, Brazil, Europe, India, the Middle East and North Africa, the UK and the US.
State of Kuwait
Sunday, 7 January – The Kuwait Foreign Petroleum Exploration Company (KUFPEC) announced the divestment of KUFPEC Norway AS (KNAS) assets has been completed after being approved by the Norwegian authorities. At the end of 2023, KUFPEC had a successful exit with its Chinese subsidiary as well. KUFPEC’s Chief Executive Officer, Mohammad Salem Al-Haimer, stated that both in Norway and China, the company aimed to provide valuable contributions to the Norwegian and Chinese oil and gas sectors.
Sultanate of Oman
Saturday, 6 January – Oman’s Ministry of Transport, Communications and Information Technology, hosted the Middle East Space conference in Muscat, in order to make the country a regional gateway for space applications, attract investments, and support economic diversification, to achieve the goals of Oman Vision 2040. More than 25 local and international companies specialised in space technologies and sciences attended to exchange experiences and build effective partnerships.
State of Qatar
Wednesday, 10 January – Qatar’s Cabinet, chaired by the Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, approved the draft of the third National Development Strategy (NDS3) for 2024-2030, the final stage to achieve Qatar’s National Vision 2030 goals. The strategy will prioritise competitiveness, innovation, and institutional excellence, as well as a balance between sustainable growth and social cohesion.
Kingdom of Saudi Arabia
Thursday, 11 January – The Board of Directors of Saudi Arabia’s mega-project, NEOM, announced plans to build a luxury project, Aquellum, on the Gulf of Aqaba coastline, which will be built inside a 450-metre mountain range featuring hotels, apartments, rooftop gardens, cinemas, museums, and commercial spaces. The plan is to build an ‘omnidirectional internal transit system’ that enables guests and residents to access their homes and hotels on the upper floors, as well as the rooftop gardens.
Thursday, 11 January – A consortium led by Saudi Arabia’s company ACWA Power and the Egyptian government signed an agreement for the largest wind energy production project in the Middle East, to be established in the Gulf of Suez and Jebel El-Zeit regions. The wind energy project, with investments of up to $1.5 billion (about €1.6 billion), will have a capacity of 1.1 gigawatts and is expected to reduce carbon dioxide emissions by 2.4 million tonnes annually.
United Arab Emirates
Saturday, 6 January – The UAE’s Prime Minister and Ruler of Dubai, Mohammed bin Rashid Al-Maktoum, announced a federal government reshuffle, appointing Maktoum bin Mohammed Al-Maktoum, the Deputy Ruler of Dubai, as Deputy Prime Minister for Financial and Economic Affairs, Mohammed bin Mubarak Al-Mazrouei, former Undersecretary in Abu Dhabi’s Crown Court and advisor at the Presidential Court, as Minister of State for Defence Affairs, Mariam Hareb Al-Muhairi, former Minister of Climate Change and Environment, as the Head of the Office of International Affairs at the Presidential Office, and Amna bint Abdullah Al-Dahak as Minister of the Environment and Climate Change, Salem Bin Khalid Al-Qasemi as Minister of Culture and Youth, and Omar Al Olama as Minister of State for Artificial Intelligence, among others.
EU Corner
Friday, 5 January – The EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, visited Lebanon and Saudi Arabia between 5-8 January. In Lebanon, Borrell met with Speaker of the Parliament, Nabih Berri, the Prime Minister, Najib Azmi Mikati, the Minister of Foreign Affairs and Emigrants, Abdallah Bou Habib, and the Armed Forces Commander, General Joseph Khalil Aoun. In Saudi Arabia, Borrell met with the Foreign Minister, Faisal bin Farhan Al-Saud, and the Secretary General of the GCC, Jasem Mohamed Al-Budaiwi. The visit aimed at discussing all aspects of the Gaza situation and its surroundings and the escalation in the Red Sea, as well as the impact on the region.
Tuesday, 9 January – The EU Special Representative to the Gulf, Luigi Di Maio, participated at the 3rd edition of the Future Minerals Forum 2024 in Riyadh, chaired by Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, alongside high-level representatives from the EU and 77 other countries. Di Maio stated that the European green transition is mineral intensive and a partnership with Saudi Arabia on critical minerals will be decisive for the shared sustainable growth.
Key official visits
Friday, 5 January – Qatar’s Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, held separate phone calls with Lebanon’s Prime Minister, Najib Azmi Mikati, and Iran’s Foreign Minister, Hossein Amir-Abdollahian, to discuss the latest developments in the Gaza Strip. Qatar’s Minister underlined to the Lebanese Minister the urgent need for the international community to take immediate action, and stressed to the Iranian Minister the necessity of working on an immediate ceasefire.
Saturday, 6 January – UAE’s President, Mohamed bin Zayed Al-Nahyan, received Qatar’s Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, in Abu Dhabi. During the meeting, they discussed cooperation and ways to enhance and develop them, as well as the latest developments in the region.
Sunday, 7 January – Oman’s Crown Prince, Theyazin bin Haitham Al-Said, travelled to Manama and met with Bahrain’s Crown Prince and Prime Minister, Salman bin Hamad Al-Khalifa, to discuss their commitment to further enhance bilateral cooperation, as well as areas of common interest and international issues.
Monday, 8 January – UK’s Minister of Trade Policy in the Department for Business and Trade, Greg Hands, travelled to Bahrain and Qatar to discuss the developments in the GCC-UK Free Trade Agreement negotiations and ways to strengthen bilateral trade and investment cooperation. In Bahrain, he met with the Crown Prince and Prime Minister, Salman bin Hamad Al-Khalifa, among others, while in Qatar, Hands separately held a meeting with the Minister of Commerce and Industry, Mohammed bin Hamad Al-Thani, and the Qatari Businessmen Association members.
Monday, 8 January – US Secretary of State, Antony Blinken, visited Qatar and Saudi Arabia, as part of his Middle Eastern tour (4-11 January) amid the Israel-Hamas war. In Qatar, he met with the Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, with whom he discussed the importance of lifting restrictions on humanitarian aid, as it violates international humanitarian law, as well as efforts to prevent the expansion of the conflict and the developments in Lebanon, Syria, Iran, and the Red Sea. The next day, in AlUla, Saudi Arabia, Blinken separately met with the Crown Prince and Prime Minister, Mohammed bin Salman Al-Saud, and the EU High Representative, Josep Borrell. Efforts to achieve security and stability in the region were discussed.
Monday, 8 January – The Dutch Foreign Minister, Hanke Bruins Slot, met with Saudi Arabia’s Foreign Minister, Faisal bin Farhan Al-Saud, in Al-Ula. During the meeting, the two sides discussed the relations between the Netherlands and Saudi Arabia and ways to enhance them, as well as how Saudi Arabia, the Netherlands, and the EU could collaborate in the long term. They also examined the situation in the Gaza Strip.
Tuesday, 9 January – Bahrain’s Interior Minister, Rashid bin Abdullah Al-Khalifa, visited Austria, where he met with Austria’s Federal Minister of Justice, Alma Zadic, Secretary-General of the Organisation for Security and Cooperation in Europe, Helga Schmid, and Officer-in-Charge of the International Anti-Corruption Academy (IACA), Jaroslaw Pietrusiewicz. They discussed ways to strengthen cooperation in criminal justice, law enforcement reform, and rehabilitation programmes, in addition to exchanging experiences for cooperation.
Tuesday, 9 January – Germany’s Vice Chancellor and Federal Minister for Economic Affairs and Climate Action, Robert Habeck, went on a three-day tour to Oman, Saudi Arabia, Israel and the West Bank. The trip aimed at supporting the dialogue process in the region for de-escalation in the Gaza Strip, and boost regional energy and economic relations. In Oman, he separately met with the Sultan, Haitham bin Tariq Al-Said, and the Undersecretary of the Foreign Ministry for Political Affairs, Khalifa Ali Al-Harthy. In Riyadh, he met with the Foreign Minister, Faisal bin Farhan Al-Saud. In Tel Aviv and Jerusalem, he held political talks with the Minister of Economy and Industry, Nir Barkat, the Minister of Energy, Eli Cohen, Minister without portfolio, Benny Gantz, and opposition leader, Yair Lapid. In Ramallah, Habeck met with the Palestinian Authority’s Prime Minister, Mohammad Shtayyeh, and took part in a round table with Palestinian business representatives.
Wednesday, 10 January – UAE’s President, Mohamed bin Zayed Al-Nahyan, travelled to India, and met with the Prime Minister, Narendra Modi, to explore areas of cooperation to boost economic growth. The two countries also signed four Memoranda of Understanding, including in healthcare, logistics, renewable energy, and food security. As part of the UAE-India partnership, an MoU was also signed between UAE’s port operator DP World and the Government of Gujarat on creating sustainable ports.
Thursday, 11 January – Qatar’s Prime Minister and Minister of Foreign Affairs, Mohammed bin Abdulrahman Al-Thani, received Portuguese Foreign Minister, João Gomes Cravinho, in Doha. The two sides discussed ways to develop bilateral cooperation, the situation in Gaza and the Red Sea as well as efforts to achieve the two-state solution.