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Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...bekistan’s state firm Uzbekneftegaz for the export of 25 bcm/year of gas to China through a planned third branch of the system. The third line is scheduled to be commissioned in 2014. Construction will be funded through direct investment by PetroChina’s parent firm China National Petroleum Corporation (CN...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...5bn of this aid, which could be very timely in helping the kingdom’s growth in the next few years. The deficit (after grants) in 2012 will represent 4.6% of GDP, down from 6.2% in 2011, the minister pointed out. It is expected to fall further to 4% in 2013 and 3.5% in 2014. The kingdom’s pu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar Awards $233Mn Power Deal To South Korea’s Hyosung
...oup, to construct eight electricity substations in Qatar by the start of 2014. “The contract was signed in November this year, and is hoped to be completed by January 2014,” a company spokesman told MEES. Under the terms of the $233mn deal signed with Qatar General Electricity and Water Co...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
SAFCO Awards Saipem Contract For Jubail Fertilizer Plant
...2bn ($533mn). The plant is expected to start commercial production in the third quarter of 2014. SAFCO will utilize its own resources to finance the project, according to SABIC’s Chairman and CEO and SAFCO’s Chairman, Muhammad al-Mady. The new project, he said, “will strengthen SAFCO’s operational pe...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Saudi Banks Show Big Appetite For Marafiq $1.2Bn Loan
...rrent 1.0gw production capacity to 2.5gw by 2014-15. The company is working on an expansion of its plant at Yanbu' that will take output from the current 1.0gw to 1.5gw by July next year. It is also adding the Yanbu' II power plant at the site, which will produce 750mw of electricity and 60,000 cmd of...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qurayyah $2.8Bn Power Project Financing Completed
...Samsung and the MENA Fund. The project company – Hajr for Electricity Production Company – will be 50:50 owned by the developers and SEC. It will deliver electricity to SEC under a 20‐year power purchase agreement (PPA) commencing on 30 June 2014. Germany’s Siemens will provide all major eq...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
SEC Finalizes $1.33Bn Islamic Financing With Local Banks
...ogram, which will see approximately SR21bn ($5.6bn) invested in three new power plants – at Rabigh, Riyadh and Qurayah – between April 2012 and April 2014, adding 5.2gw in new capacity (MEES, 4 October)....
Volume: 53Issue: 51Published at Mon, 20 Dec 2010 -
Ma'aden Aluminum Financing Oversubscribed, Attracts 16 Lenders
...d 380,000 t/y for the rolling mill. First commercial production from the smelter and mill is scheduled for early 2013. First production from the mine and refinery is set for early 2014. Alcoa will supply alumina to the smelter in the interim period. Ma'aden holds 74.9% of the joint venture; Al...
Volume: 53Issue: 49Published at Mon, 06 Dec 2010 -
RWE Sees Gas Supply Agreement With Turkmenistan In 1H10
...pacity booking will get under way during the first half of 2010. Half of the pipeline’s capacity will be reserved for third-party shippers. Partners are looking for Nabucco to become operational with initial shipments of gas from Iraq or Azerbaijan in 2014-15 (MEES, 30 November, 9 November, 12 Oc...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
Libya Delays Plans To Raise Production Capacity To 3Mn B/D Until 2017
...iro that gas production has recently doubled to over10 bcm/year from 5.4 bcm/y in 2005. Since 2007 NOC has signed a number of development agreements with partners to raise output from the development of existing oil fields, but many of these plans are not likely to be completed until 2014 at th...
Volume: 52Issue: 50Published at Mon, 14 Dec 2009 -
OMV Chief Says Nabucco Timetable “Very Ambitious”
...cision by late 2010 and a start to construction work in 2011 to allow gas deliveries via Turkey by 2014, “is very ambitions and to some extent out of our control.” OMV is leading the Nabucco project, but Mr Ruttenstorfer appeared keen to tone down recent optimism about the availability of gas from Az...
Volume: 52Issue: 49Published at Mon, 07 Dec 2009 -
CNPC Seeks Expanded Interests In Kazakhstan Through MMG Acquisition
...2014 via the China-Turkmenistan Central Asian Gas Corridor, which is expected to become operational by late 2009 with an initial transit capacity of 4.5 bcm/year....
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
HSBC Awarded Financial Advisory Mandate For ZORCO Refinery Project
...nimal fuel oil production. It is due for completion in 2014. The agreement with Foster Wheeler represents something of a breakthrough for Libya. The oil-rich North African country has been seeking to expand and upgrade its derelict refining sector for many years, and the establishment of Libya’s so...
Volume: 51Issue: 50Published at Mon, 15 Dec 2008 -
New Petkim Owners Plan Major Investments
...tkim to produce chemicals that Turkey now imports. Mr Aksoy also said the group would invest $4bn-5bn to build a new refinery with a 6mn-8mn tons/year capacity at the Petkim site that would come on-stream before 2014. The new investment includes developing the company’s port and teaming with Ge...
Volume: 50Issue: 51Published at Mon, 17 Dec 2007 -
Saudi Electricity Company Appoints Advisors For IPP Program
...oduce 1,200mw, cost SR5bn ($1.3bn) to develop and start up in 2012; the Riyadh plant will produce 2,000mw, cost SR8bn ($2.1bn) and start in 2013; and the Qurayah plant will produce 2,000mw, cost SR8bn and start up in 2014. SEC issued SR5bn of bonds in June, which came in oversubscribed (MEES, 23 Ju...
Volume: 50Issue: 50Published at Mon, 10 Dec 2007