ME to drive turbo machinery growth
Abu Dhabi, November 9, 2011
With a big demand for upstream oil and gas projects, power generation and desalination, the Middle East region is set to drive the growth for multibillion dollar turbo machinery and pumps industry, said an expert.
The key Gulf markets - the UAE, Saudi Arabia, Qatar and Kuwait - will spearhead this growth despite setbacks in other regions due to the worldwide slowdown.
"The turbo machinery, pump and valve manufacturers and service providers are snuggling up to their lucrative Middle East customer base," revealed Raj Menon, general manager, Arabian Reach, the organisers of the "Middle East Turbomachinery and pumps expo (METPE)," a first of its kind conference in the region.
MEPTE, which is being hosted in association with the Kirkuk Energy council, Iraq, will be held in Abu Dhabi from May 9 to 10.
The event will bring together engineers and researchers from around the world to discuss recent technology advancements in engine design, materials, operations and maintenance, noise reduction, alternative fuels, combustion diagnostics, and micro-turbines.
The conference will support the exchange of information focused on improving the design, manufacture, operation and maintenance, and environmental impact of gas turbines, turbo-machinery, pumps, valves and related equipment.
"We are organizing this conference in the heart of the Middle East and inviting all the companies and senior professionals those are involved in to the turbo machinery & pumps supply chain," said Menon.
According to the Arab Petroleum Investments Corp, the oil producing countries in the Mena region will be investing a whopping $525 billion on energy projects from next year to 2016.
Nations such as Saudi Arabia, the UAE, Iran and Algeria have increased spending on energy projects for the next five years as current high oil prices are allowing them to resume projects that were delayed because of to the financial crisis, it added.
Saudi will top the list with committed investments of $141 billion, followed by the UAE that is planning to invest $76 billion in that period, according to Apicorp.-TradeArabia News Service