While these blog posts appear regularly on the Stainless Steel World website I’ll let you in on a secret; sometimes I write mine a little bit in advance. In fact, by the time you read this I will be in the midst of a Southern Hemisphere winter, visiting family in New Zealand. It may seem strange to flee the balmy northern summer just when the weather has finally improved, but balancing family, work, event planning and an international magazine means that my schedule often doesn’t make a lot of sense to other people!
The concept of timing is one which affects all of us. This recently struck me as I read an excellent article by James Chater which will feature in the August Stainless Steel World. It’s a special feature on the Middle East, a region which he describes as having “projects galore”.
In Western Europe it may seem that a depressed market and the fall-out of the Brexit would make this poor time to look for projects. However in the Middle East, the projects market is forging ahead despite the sometimes dramatic regional problems there.
“There is good news and bad news emanating from the Middle East,” explains James. “On the one hand, failed states, war and a slump in oil prices; on the other, Iraq and Iran have returned to the global market place and the number of projects in the oil and gas, refining, chemical and petrochemical industries has soared. Other booming industries include solar energy, desalination and construction.”
Our industry is by necessity a very global one and as one region falters, another surges ahead.
For example as I write, BP has just announced that the Tangguh Expansion Project in Indonesia is going ahead. This will add a 3rd LNG process train and 3.8 million tons/ annum of production capacity to the existing facility, see the construction of two offshore platforms, 13 new production wells, an expanded LNG loading facility, and supporting infrastructure. In addition to the 10,000 jobs it will provide there are also enormous amounts of stainless steel and other CRA’s to be bought. If your company is involved, good luck when the EPC contracts are announced later this year!
I wish you all the best for the summer if you are in the Northern Hemisphere, and to our Southern Hemisphere readers…I hope we are collectively having a mild winter!
The USAF Thunderbirds, Photo by Staff Sgt Richard Rose Jr, US Air Force