This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.

Search Site

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Masar 2025 net profit $262m

Higher land plot sales boost revenue and operating income.

Tasnee’s 2025 losses deepen

The petrochemicals' company's revenue also fell 17.7 percent.

DP World 2025 revenue $24.4bn

The profit for the year up 32.2% to reach $1.96bn.

BYD 2025 revenue surges

The EV manufacturer reported net profit of $.3.3bn for 9M 2025.

Spain PM hopes Europe gas pipeline will soon be ready

  • Russia has reduced deliveries and nations are scrambling for supplies to avoid a possible shortage this winter, while prices for gas and electricity have soared
  • Spain currently has six liquefied natural gas (LNG) terminals for processing deliveries made by huge sea tankers back into gas and injecting them into its pipeline network

Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality.

Europe is currently undergoing an energy crisis as it struggles to rapidly reduce its dependence on Russian gas following the invasion of Ukraine.

Russia has reduced deliveries and nations are scrambling for supplies to avoid a possible shortage this winter, while prices for gas and electricity have soared.

“Spain has a lot to contribute to help Europe reduce its energy dependence on Russia thanks to our immense regasification capacity,” Sanchez said on a visit to La Palma in the Canary Islands.

Spain currently has six liquefied natural gas (LNG) terminals for processing deliveries made by huge sea tankers back into gas and injecting them into its pipeline network.

But the country has only two low-capacity links to France’s gas network, limiting its current ability to act as a conduit to boost EU gas imports.

Last week, German Chancellor Olaf Scholz said a pipeline bringing gas from the Iberian Peninsula through France to central Europe could make “a massive contribution” to easing the supply crisis, in remarks hailed by Madrid and Lisbon.

Madrid has for years championed the idea of a pipeline across the Catalan Pyrenees with France to significantly increase transfer capacity and insisted such link could be built within months.

“This is something the Spanish government has been demanding from Europe for a long time now… and we hope we can soon make this dream into a reality,” Sanchez said.

Spain is already showing solidarity with its European partners by exporting energy “and we will do so even more when we improve the energy interconnections”, he added.

The pipeline would be similar to the defunct MidCat project, which sought to link Spain to France, but which was halted in 2019 over opposition from environmental groups and a lack of funding.

Spain’s gas network operator Enagas said last week it could have the Spanish section of the pipeline ready within “eight or nine months”.

Sources familiar with the project said it would initially transport natural gas, but would ultimately switch to hydrogen.