Good morning, folks. It\u2019s an another busy issue this morning, led by big investment updates from across the region, with Microsoft announcing a major AI infrastructure push in UAE and GFH expanding its logistics portfolio in Saudi. Arcapita, another Bahraini player, is also eyeing a USD 1 bn overseas push, eying the UK and USA logistics sector. PLUS: Budget carrier AirAsia to land an operations base in Bahrain soon. <\/p>\n
HAPPENING TODAY-<\/p>\n
The <\/strong>ADIPEC Maritime and Logistics Exhibition and Conference<\/a><\/strong> is on its second day <\/strong>and will run until Thursday, 6 November<\/strong> in Abu Dhabi. The event is part of the larger ADIPEC Exhibition and Conference<\/a>, featuring 10 parallel conferences. The event brings together over 250k attendees, including high-level officials and executives from governments and the private sector, representing multiple industries like energy and logistics.<\/p>\n The <\/strong>Air Cargo Forum<\/a><\/strong> will open its doors today and run until Thursday, 6 November <\/strong>in Abu Dhabi. The forum \u2014 hosted by Etihad Cargo \u2014 will bring together air freight industry leaders, policymakers, innovators, and stakeholders to discuss industry solutions, tech, strategies, and collaborative initiatives for global air logistics.<\/p>\n \n WATCH THIS SPACE-<\/p>\n <\/a> #1- NBE tees up financing for Egypt-Israel gas link:<\/strong> State-owned lender the National Bank of Egypt (NBE) is reportedly arranging a USD 300 mn loan for East Mediterranean Gas Company (EMG) to help finance what Asharq Business<\/a> reports is a new Egypt-Israel gas pipeline running through Sinai. The funds will start flowing once construction work kicks off on the Egyptian end of the pipeline, which is expected before year-end. NBE declined to comment on the story when we reached out. <\/p>\n The project likely refers to the planned Nitzana pipeline<\/strong>, which is a key onshore connector between the two countries and the main missing technical link needed for Egypt to double gas imports under the USD 35 bn supply agreement<\/a> signed with Israel in August. Earlier this week, Israel put the agreement on hold<\/a> \u201cuntil [its] interests are secured and a fair domestic price is agreed.\u201d<\/p>\n \n <\/a> #2- <\/strong>Arcapita earmarks over USD 1 bn for UK + US logistics markets<\/strong>:<\/strong> Bahrain-based alternative asset management firm Arcapita Group Holdings<\/a> is planning to invest over USD 1 bn in logistics infrastructure in the US and UK, according to a statement<\/a>. The initiative \u2014 to be enacted over the next year \u2014 will see investments being funneled into warehousing and data centers to meet the rise of AI, cloud computing, and e-commerce,\u201d Arcapita CEO Hisham Al Raee said. The Bahraini investor will focus on industrial real estate holdings in the UK, while also acquiring and expanding its portfolio of high-quality data centers in the US. <\/p>\n \n <\/a>#3- <\/strong>Iran <\/strong>to renew gas export pact with Turkey:<\/strong> Iran will extend its natural gas export contract with Turkey, with negotiations regarding gas volumes currently underway, Iran\u2019s Mehr<\/a>News<\/a> reports, citing the National Iranian Gas Company\u2019s Managing Director Saeed Tavakoli. The parties reportedly plan on renewing the current agreement for several years beyond 2026, Tavakoli said. <\/p>\n Turkey\u2019s expiring gas contracts: <\/strong>Ankara\u2019s existing gas pact with Iran provides the country with 10 bn cbm of gas annually and is set to expire in mid-2026, Reuters<\/a> reported last month. Turkey\u2019s supplies from Russia \u2014 its biggest supplier of natural gas with some 22 bn cbm annually \u2014 are also set to stop flowing soon, and the country has begun securing alternative flows<\/a> in response to the US\u2019 heightened crackdown on Russia\u2019s energy imports. <\/p>\n IN OTHER GAS TRADE UPDATES- Azerbaijan has started exporting gas to Syria<\/strong>, Reuters<\/a> reports, citing comments made by Azerbaijan\u2019s Deputy Energy Minister Orkhan Zeynalov at the Abu Dhabi ADIPEC energy conference. The exact volume of the exports was not disclosed. <\/p>\n We knew this was coming:<\/strong> Syria\u2019s Energy Ministry inked<\/a> an MoU with the State Oil Company of the Azerbaijan Republic to export Azerbaijani natural gas to Syria through Turkey. Details on the volume of natural gas to be delivered were not disclosed at the time.<\/p>\n \n MARKET WATCH- <\/p>\n #1- Oil prices fell this morning amid market concerns of possible oversupply after Opec+ decision to halt hikes throughout <\/strong>1Q 2026, <\/strong>Reuters<\/a> reports. Brent crude futures decreased by USD 0.15 to USD 64.74 \/ bbl as of 04:05 GMT, while US West Texas Intermediate (WTI) dropped by USD 0.14 to trade at USD 60.91 \/ bbl. <\/p>\n But<\/strong> Morgan Stanley may be interpreting Opec+ decision differently, turning more bullish and <\/strong>bumping its Brent forecast for 1H 2026 to USD 60\/bbl from USD 57.50, arguing that the group\u2019s move helps stabilize the market outlook even if it does not materially alter supply expectations, Bloomberg<\/a> reports, citing a note from the bank. <\/p>\n The quota system and reality on the ground are diverging:<\/strong> Morgan Stanley estimates Opec+ output only rose around 500k bbl \/ d between March and October, well below the 2.6 mn bbl \/ d quota increase announced for that period. <\/p>\n Supporting the view:<\/strong> Opec+\u2019s latest signal is giving the market some confidence that producers remain focused on managing supply through a softer demand season, reinforcing expectations of a steady path toward balance, Vijay Valecha, CIO of Century Financial said in a note seen by EnterpriseAM. <\/p>\n The outlook is further buoyed by geopolitical tensions<\/strong>, following reports of a Ukrainian drone strike on a Russian Black Sea oil port that raised concerns over potential supply disruptions, Valecha said.<\/p>\n \n #2- Baltic index continues to ease: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was down 1.1%<\/a> to 1,945, driven by declining rates across all vessel segments. The capesize declined by 1.4% to 2,888, while the panamax index shed 1.1% to 1,801. The smaller supramax index fell 0.5% to 1,320.<\/p>\n \n #3- <\/strong>The Egyptian gov\u2019t is working on a new natural gas pricing <\/strong>formula <\/strong>for industry<\/strong>, starting with energy-intensive sectors, three government sources told EnterpriseAM. The plan aims to gradually transition to a freemarket price aligned with global benchmarks as part of efforts to establish a liberalized natural gas market<\/a>, attract foreign investment, and strengthen the competitiveness of local products by properly pricing key inputs, including energy. <\/p>\n The details:<\/strong> The new pricing mechanism will be based on the average cost of domestic gas production, in addition to the contracted price of gas supplied through pipelines and imported cargoes, \u00b1 USD 1, the sources said. The policy will first be applied to fertilizer players, one of the sources told us.<\/p>\n A monthly gas price review is being considered<\/strong>, the sources said. The review may keep prices as is, raise them, or lower them, giving industries a chance to benefit if global prices decline. <\/p>\n Policy objective:<\/strong> Reducing subsidies and strengthening the Egyptian General Petroleum Corporation\u2019s financial position as an independent entity sits at the core of the plan, sources said, adding that ensuring fair pricing for high-quality local industrial output is a key target.<\/p>\n ICYMI- <\/strong>The government raised<\/a> natural gas supply prices for the industrial sector by 28%, or USD 1 per mn British thermal units (BTU), starting 15 September, in a bid to balance local market needs and secure gas supplies for factories. <\/p>\n REMEMBER-<\/strong> The government raised the tariff<\/a> for transporting natural gas through the national grid a few months back.<\/p>\n The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n ***<\/strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities, Transmar, and AK-Ships.<\/p>\n Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on logistics@enterprisemea.com<\/a>.<\/p>\n DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, Saudi Arabia<\/a>, and the UAE<\/a><\/a> ***<\/strong><\/p>\n CIRCLE YOUR CALENDAR-<\/strong><\/p>\n Egypt will host the <\/strong>TransMea Expo<\/a><\/strong> on Sunday, 9 November until Tuesday, 11 November <\/strong>in Cairo. The expo will host regional and international players in the transport industry to explore tech, new smart solutions, and products for transport and logistics services. <\/p>\n The UAE will host the <\/strong>Dubai Airshow<\/a><\/strong> on Monday, 17 November until Friday, 21 November<\/strong> in Dubai. The event will host over 1.5k exhibitors and 148k industry experts from over 150 countries, to discuss air mobility, new MRO breakthroughs, sustainable aviation, startups, and new tech for aircraft simulations. <\/p>\n Saudi Arabia will host the <\/strong>ShipTek International Conference and Awards<\/a><\/strong> on Tuesday, 18 November<\/strong> in Al Khobar. The conference will host policymakers, organizations, suppliers, and experts on maritime, offshore, and oil and gas.<\/p>\n
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