Qatargas has been awarded the “Award for Excellence in Flaring Reduction” by the World Bank led Global Gas Flaring Reduction Partnership (GGFR) at a gala ceremony in London.
The World Bank led initiative, the GGFR, is a globally recognized flare mitigation program within the oil and gas industry.
Sheikh Khalid bin Khalifa Al-Thani, CEO at Qatargas, said: “We are delighted to win this prestigious award which bears testimony to our adherence to operational excellence and high environmental performance and stewardship. It shows our approach to flare management is seen internationally as being in the top category of performance and is particularly relevant as Qatar will shortly be hosting the international climate negotiations, the Conference of the Parties (COP18).”
Sheikh Khalid Abdullah M.A. Al-Thani, COO, engineering and ventures at Qatargas, who collected the award on behalf of Qatargas, said: “Our key drivers to minimize flaring include our desire to reduce our carbon footprint and also achieve operational excellence. We are currently leading one of the largest entirely environmentally-friendly based projects in the world to recover gas being flared during the Liquefied Natural Gas (LNG) ship loading at Ras Laffan Port. The $ 800 million Jetty Boil-Off Gas (JBOG) Recovery Project will enable boil-off gas to be collected from LNG ships and compressed at a central facility. The compressed gas will then be sent to the LNG producers to be consumed as fuel or converted back into LNG.”
He added” “The JBOG Project is a cornerstone of Qatargas’ overall flare management and reduction strategy and will be instrumental in our drive to reduce and maintain total flaring at regulatory target levels in the long-term to protect the environment. The project will recover enough natural gas per year to power the equivalent of more than 40,000 homes.”
Qatargas honored for excellent flare management
Qatargas honored for excellent flare management
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
