The new wave of dealmaking by Gulf sovereign wealth funds
For resource-rich countries such as Gulf oil and natural gas producers, sovereign wealth funds have emerged as promising tools to save for future generations, mitigate the effects of outsized economic shocks, and/or be deployed as reserve investment and strategic development funds to spend on human, natural, social, and physical capital.
Regional Environmental Cooperation Between Israel and Its Neighbors
As environmental challenges become a priority for countries across the Middle East and the Mediterranean, this creates new opportunities for regional environmental cooperation, including between Israel and its neighbors. Despite being limited in scope and facing several key obstacles, regional cooperative endeavors are taking place, including on both the bilateral and multilateral levels, and efforts to sustain and expand them are underway. This new report, written under the auspices of the Israel Climate Forum, addresses the importance of regional environmental cooperation in the Middle East and Mediterranean, examines the scope of such cooperation between Israel and its neighbors, and spells out opportunities, obstacles, and recommendations for increased coordination and joint action, including the role the U.S. and Europe can play.
Mastering the growing crisis in the South Caucasus: A role for the West and Turkey
The South Caucasus region needs a clear push from the West to ensure its long-term stability and achieve a pro-Western orientation. But no lasting solutions in this space will be possible until there is an end to the war in Ukraine that fulfills the interests of both Ukraine itself and the broader West. The United States and the European Union, in cooperation with other key players — foremost Turkey — must showcase greater determination, flexibility, and coordination when it comes to their policies toward the region.
In the last few years, the global energy outlook has been transformed. The rise of populist politics and a growing sense of urgency about climate change have roiled debates about energy policy in wealthy countries, generating a dizzying mix of new industrial policies. The COVID-19 pandemic made it far harder to predict fuel prices and consumption patterns and forced many countries to confront their connections to fragile multistate supply chains and legacy petrostates.
Georgia the interconnector — but where’s Washington?
For the sake of safeguarding transatlantic — and thus also American — security interests in the South Caucasus, it is becoming increasingly imperative that the United States better anchor itself economically, politically, and militarily in the eastern Black Sea region, especially strategically placed Georgia.
The Gulf’s twin failings: Innovation and private sector employment for nationals
The Gulf states emerged from the global pandemic with the wind in their economic sails. But high-profile events like Qatar’s hosting of the FIFA World Cup and the UAE’s World Expo continued to mask two subtle but major weaknesses that have plagued them for decades. Why do Gulf economies lack innovation? And why do they struggle to create private sector employment for nationals?
The current complex situation in the global oil market seriously tests the abilities of OPEC+ to play the role of a regulator, forcing Saudi Arabia to assume the main burden of responsibility for keeping oil prices from declining further and for shoring up the cartel ranks.
Saudi LNG exports: Overcoming challenges to commercial success
After issuing positive statements around greenfield blue hydrogen projects in late 2022, the company, Bloomberg now reports, may be migrating away from the hydrogen scheme and toward LNG exports. Both would require significant capital investment. Assuming the company decides to pursue an LNG export project, it will face many potentially value-erosive challenges and risks that must be overcome before achieving economic success.
How the rumble in Russia reverberates around the Middle East
It is too early to tell whether the Wagner “uprising” is a one-off or foreshadows further cracks and the eventual collapse of Putin’s presidency, but the latter outcome would have lasting consequences in the MENA region.
Measure, verify, certify: How to future-proof Gulf companies in the energy transition
Several Gulf states have introduced renewable energy certificates into their low-carbon energy eco-system. What are RECs and how can they help companies navigate the energy transition?
Disease, destruction, flooded fields, and hunger: The far-reaching consequence of the Kakhovka dam collapse in Ukraine
Last week’s collapse of the Nova Kakhovka dam on the Dnipro River in Ukraine is one of the largest environmental disaster the Black Sea region and Europe has faced in decades. Its far-reaching environmental, economic, and humanitarian consequences will affect not just Ukraine and the Black Sea region, but also the Middle East and Africa.
The potential and limitations of Russia-China cooperation in the Middle East
Even though Russia and China’s strategic partnership has strengthened in recent years, the leaderships of both countries infrequently engage on Middle East affairs. Russia views China’s growing diplomatic assertiveness in the Middle East as a positive step toward a multipolar regional order. Nevertheless, Russia is trying to avoid being completely eclipsed by China as a prospective conflict arbiter. While the two countries concur on opposing unilateral sanctions and democratic uprisings in the Middle East, Beijing does not universally approve of Moscow’s positions on regional crises and its power projection strategy.
Azerbaijan's Hoseyniyun: The prospects and challenges of a Caucasus Hezbollah
The “Axis of Resistance,” a network of non-state actors aligned with Iran, has emerged as a significant force in the Middle East in the last two decades. Despite the attention given to the more well-known members of the Axis of Resistance, the Azerbaijani group Hoseyniyun, which also operates within the network, remains relatively unknown.
