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Expanding Gas Sector And Government Spending Driving Qatar’s Growth, Says NBK
...termined drive to diversify the economy and strong government backing should help shield Qatar and secure continued growth, concludes the report. Qatar’s real GDP growth is estimated at 9.8% in 2009 and is expected to accelerate in 2010 and 2011 to 16% and 12%, respectively, largely in step with in...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Maghreb Economies Unscathed By Global Crisis, Says IIF
...ve maintained the pace of steady reforms, achieving solid growth rates and stable financial conditions. The gradual recovery in the EU area should raise demand for Moroccan and Tunisian goods and support recovery in the tourism sector. In 2011, both countries are projected to return to higher growth, 4....
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Syria And Iran Review Gas Import Plans
...eppo, Syria to Kilis, Turkey which is due to be completed by early 2011 (MEES, 23 November 2009). The two countries also agreed to implement a preferential trade agreement which is to be put into effect on 1 June and to boost the level of trade between them to $5bn. They also agreed to cooperate in the ba...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
QEWC To Build Two 450MW Gas-Fired Power Plants In Syria
...A) from its allocation to the Ministry of Electricity, said SQHC. The work will begin before April 2011 and the plants are expected to be fully operational by June 2013. The generated power will be supplied to the Syrian national grid through a long term power purchase agreement (PPA) or an energy co...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Key Results From The 12th IEF In Cancun
...rst Annual Symposium on these outlooks is planned for January 2011 at the IEF Secretariat, in cooperation with the IEA and OPEC, with participation from the main institutions that publish regular energy outlooks. Facilitating NOC/IOC Cooperation With an investment need of over $25 trillion between no...
Volume: 53Issue: 19Published at Mon, 10 May 2010 -
Surging Demand Threatens Middle East Exports
...ursaniyah (1bn cfd, 2010), Karan (1.8bn cfd, in stages during 2011-13) and the Wasit Gas Plant (2.5bn cfd, 2014), Mr Falih said. Sales gas capacity will increase from 7bn cfd to 9.3bn cfd by 2015. Ethane production capacity will rise from 800mn cfd to 1.2bn cfd, while NGL production capacity will grow from 93...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
GE To Supply Turbo Compressors For El-Merk Processing Plant
...th turbo compression equipment for Groupement Berkine’s El-Merk central processing facility (CPF) in Algeria, GE said on 26 April. The facility, located in the Berkine Basin, is expected to start production in late 2011, and will serve as a production hub for the region, handling hydrocarbons from Bl...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Nabucco Launches Prequalification Process For Long Lead Items
...nsortium plans to make a final investment decision on the €7.9bn project during the fourth quarter of this year. Construction is scheduled to begin at the end of 2011 and first flow is due in 2014 with an initial throughput of 8-10 bcm/year. Full capacity of 31 bcm/y is expected to be reached in 2018. A st...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Turkey And Azerbaijan Reach Agreement On Gas Purchase And Transit
...secure gas shipments from Iran across Turkey, Greece, Albania and the Adriatic Sea to Italy (MEES, 29 March, 22 March). Meanwhile, Russia’s Gazprom has arranged with Azerbaijan to purchase 1 bcm in 2010 and 2 bcm in 2011. The Russian monopoly has offered to purchase all Shah Deniz Stage 2 ou...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Dragon Arranges Short-Term Crude Swap With Iran, Seeks Longer Arrangement
...second quarter 2011. Kashagan is to come on-stream in 2012-13. Germany’s E.ON Ruhrgas has submitted to Socar a plan for the modernization of the gas infrastructure in the Baku and Absheron regions of Azerbaijan. An announcement posted on Socar’s website on 27 April said the upgrading, es...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
ERC Seeks Remaining Funding For Musturud Refinery
...grading is being implemented as a lump sum turnkey (LSTK) contract. Completion is planned for 2014. It had originally been scheduled for 2011, and costs were pegged at $2.25bn (MEES, 30 June 2008). But the project financing for the refinery was slowed down by the financial crisis, and underwent al...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Saudi Arabia Set To Become Major Player In Global Aluminum, Says NCB
...d Western Europe will take a number of years to reach pre-downturn levels. China, India and the Middle East will also account for around 97% of the 7.9mn tons/year global capacity increase anticipated in 2010 and 2011. GCC is forecast to produce 3.5mn t/y of primary aluminum by the end of 2010, re...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Nakheel Signs Agreements With Trade Creditors
...34.4bn ($9.37bn) on 21 April, with provisioning levels for non-performing loans rising by 2.4% from February to March. The National Central Cooling Company (Tabreed), an Abu Dhabi-based, Dubai-listed refrigeration and cooling company, has meanwhile delayed its payment on an DH1.7bn ($460mn) sukuk due in 2011...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
Political Comment (3 May 2010)
...shir's National Congress Party to steer the country towards the ultimate goal of the 2005 Comprehensive Peace Agreement that ended more than 20 years of civil war, the January 2011 referendum on independence for the south of the country. Charles Snow...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
European Spot Gas Prices: A GECF Challenge
...cisions. The same circumstances will continue in 2010 and likely also in 2011. By end-2010 uncommitted LNG quantities are likely to total some 27 bcm of pipeline quality gas, a number that has been reduced by 15 bcm since the beginning of 2010 due to further delays in the start-up of some new LNG trains. Fi...
Volume: 53Issue: 18Published at Mon, 03 May 2010 -
IMF Says Jordan’s GDP Growth Averaged 5.6% In 2008
...2011. The directors recommended attaching top priority to completing the reform of public financial management and welcomed efforts to enhance public debt management. Finally, they agreed that the exchange rate peg, which has provided stability in the challenging global environment, remains an ap...
Volume: 52Issue: 21Published at Mon, 25 May 2009 -
Project Finance Deals Push Ahead Despite Reduced Funding
...prove and by 2011 banks’ balance sheets will be much stronger, allowing pricing to fall....
Volume: 52Issue: 20Published at Mon, 18 May 2009 -
South Stream Gas Pipeline Plans Taking Shape, Eni Seeks Counterbalance To Gazprom
..., aren’t yet finished. The project’s pre-feasibility studies are expected in September,” he noted. Gazprom is pushing for the South Stream final investment decisions to be taken by all parties by early 2011, with a view to completing construction by 2015. The Russian firm has repeatedly said th...
Volume: 52Issue: 20Published at Mon, 18 May 2009 -
Masdar To Invest In London Array Wind Farm After UK Agrees Subsidy
...chnology as we move toward a low carbon future.” The British government allocated £525mn in the 2009 budget for offshore wind subsidies between 2011 and 2014, much of them for the London Array project. Alastair Darling, Chancellor of the Exchequer, announced last month that a further £4bn in subsidies co...
Volume: 52Issue: 20Published at Mon, 18 May 2009 -
GEEI Green Paper Urges Quick US Action On Energy Security
...obal dependency on OPEC oil. Oil at $40/B has already led to a slowdown in new investment in Canadian oil sands and other energy projects,” the paper says. “By the time demand recovers, perhaps as late as 2010 or 2011, a supply gap may emerge which could take another five to seven years to fill. Ma...
Volume: 52Issue: 19Published at Mon, 11 May 2009