Middle East Economic Survey

VOL. LI

No 2

14-January-2008

YEMEN

Yemen LNG Secures Gas Supply Deal

Text Box: TOP STORIES (1-11)   Yemen LNG Gas Deal Agreed, 1 Kuwait Looks Free Gas Debut, 3 Libya Downstream Progress, 5 BG Quits Israel, Eyes Egypt Market, 6 Iran’s 08 Budget Analysis, 7 Agenda: MENA Refining Survey, 9   ENERGY FUNDAMENTALS (11-16)   Crude Prices Ease, 11 EIA: 09 Demand Growth Raised, 12 Barclays: Further Long-Term Rises, 12 WEF: Energy Security Problems, 13   NEWS BY COUNTRY (17-27)   Algeria 08 Budget Based On $19/B Oil Price, 17 Caspian Engineer Appointed For Nabucco, 18 Iraq Oilfield Development Form Issued, 21 Oman Record 08 Budget Announced, 22 Regional Turkey/Israel Pipeline Plans, 23   POLITICAL COMMENT (28-29)   Bush Arrives, 28 A Naval Incident, 29   OP-ED & DOCUMENTS (29-33)   Alhajji: Energy Security (5/5), 29 Iraq Oilfields Tender Document, 31    

Yemens state-owned Safer Exploration and Production Company and the consortium leading the Yemen LNG (YLNG) project on 7 January signed a three-part agreement securing gas supply for the 6.9mn tons/year venture. This allows for Safer to continue to operate the Marib basin Block 18, which will be supplying the project. Concerns over gas availability and the sustainability of reservoirs on Block 18 have...