Latest news with #NorthFieldExpansionProject
Zawya
22-04-2025
- Business
- Zawya
GWC discloses Q1-2025 financial results
Sheikh Mohammed Bin Hamad: We remain committed to strengthening our financial position Sheikh Abdulla Bin Fahad: We are implementing a comprehensive expansion strategy Matthew Kearns: We aim to deliver innovative logistics solutions to our clients Doha / Qatar: Gulf Warehousing Company Q.P.S.C (GWC) – one of the leading logistics providers in the MENA region, announced its financial results for the first quarter (the three-month period ending March 31, 2025). The company reported total revenues of QAR 367.65 million, a net profit of QAR 37.69 million, and earnings per share of QAR 0.064. His Excellency Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman, said: 'We succeeded in achieving a growth in our net profits by 54% on a quarterly basis of QAR 37.69 million in the first quarter of this year as compared to QAR 24.87 million during the last quarter of 2024. At the same time, the company remains focused on achieving its strategic goals, which include sustaining profitability, expanding into promising sectors and markets, while contributing to the implementation of the Third National Development Strategy and Qatar National Vision 2030, and strengthening its position as one of the leading logistics providers in the MENA region." He added: 'We are continuing our efforts to solidify the company's financial position, enhance operational efficiency, and develop the infrastructure and human capital, while implementing a well-planned expansion strategy and adopting a prudent approach to mitigate potential risks. This calls for greater flexibility and adaptability to changing economic conditions in order to ensure long-term stability, achieve sustainable returns, and maximize shareholder value." His Excellency Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, GWC Managing Director, said: 'GWC is actively implementing a comprehensive expansion strategy aimed at enhancing returns and diversifying its investments by solidifying its presence in promising markets that offer opportunities for sustainable growth. This will further strengthen our leadership in the regional logistics sector while expanding our local logistics network to provide best in class services to our clients.' By the end of February 2025, GWC launched a cutting-edge logistics hub in Ras Laffan Industrial City, dedicated to servicing Qatar's vital oil and gas industry, particularly with the implementation of the North Field Expansion Project — the world's largest LNG project currently under construction. In March, GWC signed a strategic partnership agreement with Huawei to provide delivery services for its e-commerce store across Qatar, ensuring an exceptional customer experience following the official launch of Huawei's e-commerce store in Qatar on March 20, 2025. Matthew Kearns, GWC's Acting Group CEO, said: 'Innovation is our top priority as we aim to deliver leading logistics solutions that meet all customer needs and keep pace with future developments. In addition to our commitment to the highest standards of sustainability and governance, we are dedicated to supporting small and medium-sized enterprises, delivering world-class logistics services, expanding our customer base, and forging strategic partnerships with promising companies that add value to our business. These will not only offer profitability opportunities, and enhance operational excellence, but also increase efficiency and reinforce our brand presence locally, regionally, and globally.' In early April, GWC received its first Long- and Short-Term ratings on the Qatar National Scale of 'qaA-' and 'qaA2', respectively, from Capital Intelligence, with a stable outlook. The international agency confirmed that GWC is the largest logistics services provider in Qatar, with a dominant market share in its home market, a strong financial position, and a focus on improving margins by offering higher value-added supply chain services, supported by its solid capital base. About GWC Group Gulf Warehousing Company Q.P.S.C (GWC) is Qatar's number one logistics and supply chain solutions provider and a trusted industry leader across the GCC. Since its establishment in 2004, GWC has built a reputation for operational excellence, innovation, sustainability, and reliability. With a comprehensive regional network and advanced infrastructure, the company delivers seamless, technology-driven solutions covering warehousing, distribution, freight forwarding, transportation, and specialized logistics. GWC empowers businesses of all sizes, from entrepreneurs and SMEs to global multinationals, enabling seamless operations and sustainable growth. Notably, GWC was the first Regional Supporter and the Official Logistics Provider for the FIFA World Cup Qatar 2022™, showcasing its world-class capabilities on the global stage.
Zawya
12-03-2025
- Business
- Zawya
Qatar's natural gas output to reach 244bcm in 2030: GECF
Qatar's natural gas production is expected to reach 244bcm in 2030 and grow to 300bcm by 2050, Gas Exporting Countries Forum (GECF) has said in its Global Gas Outlook 2050. The focus on expansion and sustainability reflects Qatar's strategic approach to energy development, balancing growth with responsible resource management, Doha-headquartered GECF said in its 'Global Gas Outlook 2050', which was released here on Monday. Qatar's natural gas demand is projected to grow by 22bcm, reaching 71bcm by 2050, with an annual growth rate of 1.4%. Expanding LNG export production capacity and energy sector-related needs primarily drive this increase, GECF said. Qatar's production stood at 169bcm in 2023, adding 4bcm primarily from the Barzan project, GECF noted. According to GECF, Qatar's strategy focuses on expanding its LNG capacity, with gas production projected to reach 300bcm by 2050. This significant growth requires massive investments toward the North Field Expansion Project, the world's largest natural gas reserve. These efforts aim to solidify Qatar's position as a leading LNG exporter to Asia and Europe, strengthen its energy security, and align with global energy transition goals. Qatar's stable investment environment, strengthened by long-term contracts and established market access, further supports its growth as a reliable supplier in global energy markets. Qatar is also diversifying its gas use by investing in fertiliser production and low-carbon gas-based solutions, including the Ammonia-7 blue ammonia project, expected to begin operations in 2026. However, gas demand in power generation is expected to see only modest growth, GECF noted. Qatar aims to install 4GW of large-scale solar PV capacity by 2030, reflecting its commitment to renewable energy. GECF noted the Middle East's long-term average annual growth rate is projected to reach 3% by 2050, reflecting a moderate slowdown compared to the historical average of 3.7% between 1996 and 2023. This deceleration is influenced by the maturing economies of key oil and gas exporters, including Qatar, Saudi Arabia, and the UAE, which are expected to collectively account for over 55% of the region's GDP through mid-century. Long-term growth rates for these countries are forecasted at 3%, 3.2%, and 3.4%, respectively, signalling a gradual easing of economic momentum as these economies transition from reliance on hydrocarbons to more diversified economic models. According to the outlook, the Middle East is positioning itself as a global leader in blue hydrogen production, leveraging its proximity to extensive natural gas reserves. This strategic focus not only enables the production of low-carbon hydrogen but also fosters the establishment and expansion of hydrogen markets. By 2050, 14% of the total incremental gas use in the region is projected to be associated with low-carbon hydrogen production. State-owned companies and government funding are driving the development of hydrogen projects, supported by advancements in CCUS technologies. These initiatives will ensure the long-term viability of the natural gas sector while contributing to global decarbonisation goals, GECF noted. Across the region, growing demand for natural gas in industry and power generation is expected to account for 57% of the total growth, or an additional 163bcm by 2050. As an energy source and feedstock, industrial gas use is set to play a pivotal role, adding 83bcm over the forecast period. Expanding gas-to-chemicals, petrochemicals, fertiliser production, and light manufacturing industries will drive this growth. 'Natural gas is expected to remain integral to powering water desalination through cogeneration facilities or membrane technologies reliant on electricity,' GECF said in its latest gas outlook. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Pratap John
Zawya
24-02-2025
- Business
- Zawya
GWC announces opening of new logistics hub in Qatar
Qatar - Gulf Warehousing Company (GWC), one of the leading logistics providers in the Mena region, has announced the launch of a cutting-edge logistics hub at Ras Laffan, dedicated to servicing the country's vital oil and gas industry. This new facility has been developed to support the continued growth and development of Qatar's energy sector, particularly with the implementation of the North Field Expansion Project - the world's largest LNG project currently under construction - in line with Qatar National Vision 2030, which prioritises the Optimum exploitation of hydrocarbon resources. The expansive hub boasts an indoor bulk storage warehouse covering more than 5,300 sq m which is fully air-conditioned and with a 25-tonne overhead crane, said GWC in a statement. Additionally, an indoor racked storage distribution centre (DC) offers thousands of pallet locations. According to GWC, the facility also includes five workshops, each spanning 1,000 sq m and equipped with drive-in facilities and 10-tonne overhead cranes with a 20-m span – ensuring seamless handling of heavy equipment and machinery. Another key highlight of the hub is its 14,000-sq-m heavy-duty interlocked laydown yard, equipped with comprehensive drainage, lighting, and fencing, providing secure and versatile outdoor storage solutions, it stated. Speaking at the launch, Managing Director Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, said this state-of-the-art hub represents a significant milestone for GWC as we continue to expand our capabilities and cater to the unique needs of Qatar's oil and gas sector. "Our investment in this facility underscores our unwavering commitment to supporting the nation's energy sector," he stated. Acting Group CEO Matthew Kearns, highlighting the strategic importance of the hub, said: "The Ras Laffan hub is tailored to provide efficient, reliable, and scalable logistics solutions to the oil and gas industry. With cutting-edge facilities and technology, we are poised to enhance operational efficiencies and support the complex logistics needs of our clients in this critical sector." "This facility is a testament to GWC's proactive approach in fostering the growth of Qatar's energy sector, in harmony with Qatar National Vision 2030, while further reinforcing its ongoing comprehensive expansion strategy," stated Kearns. The Ras Laffan hub further cements GWC's position as a logistics leader in the Mena region and globally, offering comprehensive solutions that drive efficiency and growth for Qatar's key industries, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
23-02-2025
- Business
- Zawya
GWC launches major logistics hub in Ras Laffan
Sheikh Abdulla Bin Fahad: Enhancing our capabilities to provide advanced logistics solutions Matthew Kearns: Implementing a comprehensive expansion strategy and improving operational efficiency Doha / Qatar: Gulf Warehousing Company Q.P.S.C (GWC) – one of the leading logistics providers in the MENA region, has announced the launch of a cutting-edge logistics hub in Ras Laffan, dedicated to servicing the country's vital oil and gas industry. This new facility has been developed to support the continued growth and development of Qatar's energy sector, particularly with the implementation of the North Field Expansion Project—the world's largest LNG project currently under construction—in line with Qatar National Vision 2030, which prioritizes the Optimum exploitation of hydrocarbon resources. The expansive hub boasts an indoor bulk storage warehouse covering more than 5,300 square metres which is fully air-conditioned and with a 25-tonne overhead crane. Additionally, an indoor racked storage distribution centre (DC) offers thousands of pallet locations. The facility also includes five workshops, each spanning 1,000 square meters and equipped with drive-in facilities and 10-tonne overhead cranes with a 20-metre span – ensuring seamless handling of heavy equipment and machinery. Another key highlight of the hub is its 14,000-square metre heavy-duty interlocked laydown yard, equipped with comprehensive drainage, lighting, and fencing, providing secure and versatile outdoor storage solutions. Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, GWC Managing Director, expressed his enthusiasm about the new facility: 'This state-of-the-art hub represents a significant milestone for GWC as we continue to expand our capabilities and cater to the unique needs of Qatar's oil and gas sector. Our investment in this facility underscores our unwavering commitment to supporting the nation's energy sector.' Matthew Kearns, GWC's Acting Group CEO, highlighted the strategic importance of the hub: 'The Ras Laffan hub is tailored to provide efficient, reliable, and scalable logistics solutions to the oil and gas industry. With cutting-edge facilities and technology, we are poised to enhance operational efficiencies and support the complex logistics needs of our clients in this critical sector. This facility is a testament to GWC's proactive approach in fostering the growth of Qatar's energy sector, in harmony with Qatar National Vision 2030, while further reinforcing its ongoing comprehensive expansion strategy.' The Ras Laffan hub further cements GWC's position as a logistics leader in the MENA region and globally, offering comprehensive solutions that drive efficiency and growth for Qatar's key industries. Qatar is currently witnessing accelerated progress in executing the North Field Expansion Project, which is divided into three phases. The first phase, the North Field East Project, aims to increase Qatar's LNG production capacity from the current 77 million metric tons per annum (MTPA) to 110 MTPA by 2026. The second phase, the North Field South Project, will further boost production from 110 MTPA to 126 MTPA by 2027. The recently announced third phase, the North Field West Project, is set to raise production capacity to 142 MTPA before the end of 2030. Notably, the North Field Expansion is expected to drive Qatar's economic growth in the years ahead. -Ends- About GWC Group Established in 2004, GWC has become one of the leading logistics and supply chain solutions provider in the MENA region. GWC offers best-in-class logistics and supply chain services that include warehousing, distribution, logistics solutions for hazardous materials, freight forwarding, project logistics, sporting events and equestrian logistics solutions, fine art logistics, supply chain consulting services, transportation, records management, and local and international relocation services. GWC benefits from a global freight network and massive logistics infrastructure spanning over 4 million square meters. GWC was the first Regional Supporter and the Official Logistics Provider for the FIFA World Cup Qatar 2022™. Our Social Media handle is @gwclogistics Get in touch:
Trade Arabia
23-02-2025
- Business
- Trade Arabia
GWC announces opening of new logistics hub in Qatar
Gulf Warehousing Company (GWC), one of the leading logistics providers in the Mena region, has announced the launch of a cutting-edge logistics hub at Ras Laffan, dedicated to servicing the country's vital oil and gas industry. This new facility has been developed to support the continued growth and development of Qatar's energy sector, particularly with the implementation of the North Field Expansion Project - the world's largest LNG project currently under construction - in line with Qatar National Vision 2030, which prioritises the Optimum exploitation of hydrocarbon resources. The expansive hub boasts an indoor bulk storage warehouse covering more than 5,300 sq m which is fully air-conditioned and with a 25-tonne overhead crane, said GWC in a statement. Additionally, an indoor racked storage distribution centre (DC) offers thousands of pallet locations. According to GWC, the facility also includes five workshops, each spanning 1,000 sq m and equipped with drive-in facilities and 10-tonne overhead cranes with a 20-m span – ensuring seamless handling of heavy equipment and machinery. Another key highlight of the hub is its 14,000-sq-m heavy-duty interlocked laydown yard, equipped with comprehensive drainage, lighting, and fencing, providing secure and versatile outdoor storage solutions, it stated. Speaking at the launch, Managing Director Sheikh Abdulla Bin Fahad Bin Jassim bin Jaber Al Thani, said this state-of-the-art hub represents a significant milestone for GWC as we continue to expand our capabilities and cater to the unique needs of Qatar's oil and gas sector. "Our investment in this facility underscores our unwavering commitment to supporting the nation's energy sector," he stated. Acting Group CEO Matthew Kearns, highlighting the strategic importance of the hub, said: "The Ras Laffan hub is tailored to provide efficient, reliable, and scalable logistics solutions to the oil and gas industry. With cutting-edge facilities and technology, we are poised to enhance operational efficiencies and support the complex logistics needs of our clients in this critical sector." "This facility is a testament to GWC's proactive approach in fostering the growth of Qatar's energy sector, in harmony with Qatar National Vision 2030, while further reinforcing its ongoing comprehensive expansion strategy," stated Kearns. The Ras Laffan hub further cements GWC's position as a logistics leader in the Mena region and globally, offering comprehensive solutions that drive efficiency and growth for Qatar's key industries, he added.
