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Saudi Banks Dominate Oversubscribed $3.6Bn Ma'aden Project Financing
...ll’s construction in August. First commercial production from the smelter and mill is scheduled for early 2013, with first production from the mine and refinery set for early 2014. Alcoa will supply alumina to the smelter in the interim period. The smelter has been designed to accommodate ex...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Fight For Abu Dhabi Oil And Gas Field Concessions Heats Up
...ich expires in January 2014. The emirate may break up the consortium’s – ADNOC (60%), Shell, Total, BP and ExxonMobil (9.5% each) and Portugal’s Partex (2%) – concession, which includes most of the emirate’s major onshore fields, and allow individual firms to operate separate fields. An advantage to Ab...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Satorp Paves Way For Saudi Project Sukuk Issuers With $1Bn Offering
...nerally want to hold long dated limited recourse instruments with call options that ultimately change the tenor, said one bank expert, noting that that the Satorp Mudaraba sukuk carries a 14-year tenor and an embedded call option (so it matures in 2014). Even in mature markets like the US the project bo...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Gulf Turns To Unconventional Gas To Ease Shortage
...ate-owned Bahrain Petroleum Company (BAPCO). Bahrain will take a decision by the first quarter of 2012 on awarding an LNG import terminal contract (MEES, 15 August) to import 400-800mn cfd of LNG for 15 years starting in 2014. But it will only drill the first Awali field pre-Khuff deep gas ex...
Volume: 54Issue: 41Published at Mon, 10 Oct 2011 -
Barzan $10Bn Gas Project Financing Attracts 30 Banks
...the ECA-covered facilities, the Japanese Bank for International Cooperation (JBIC) and Kexim are providing direct loans to the Barzan project. Pricing on the direct ECA funding typically comes in below the level paid to the commercial banks. Barzan is planned for start-up in 2014 and ex...
Volume: 54Issue: 41Published at Mon, 10 Oct 2011 -
Abu Dhabi To Take ADCO Concession Renewal Decision By Year-End
...ncession when it expires in January 2014, an official from a major tells MEES. The consortium’s international oil company shareholders are concerned that the Supreme Petroleum Council (SPC) will award fields to the lowest bidders, in a decision that will affect Abu Dhabi’s oil production for 30 years, Ni...
Volume: 54Issue: 41Published at Mon, 10 Oct 2011 -
BP’s SEEP Pipeline Option Stirs Southern Gas Corridor Debate
...rmitting process unscathed, and this is thought to involve giving them an equal share of the project’s benefits both in gas and rates of return. The problem with offering equity is the states involved, except for Turkey, will have already spent several tens of millions of euros by 2014 on integrating th...
Volume: 54Issue: 41Published at Mon, 10 Oct 2011 -
Storm Clouds Gather Over Iraqi Oil Development
...Neel’s presentation estimates. The problem, the source says, is that rising demand means that new capacity won’t really begin to be felt until what could be a politically unacceptable 2014. Mr Neel urged Baghdad to review its electricity subsidy policy sooner rather than later to promote co...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
BP Reveals Fourth Pipeline Option For Shah Deniz 2 Gas
...ere is concern about the potential extent to which it would overlap with a number of interconnector pipelines that are due to become operational throughout Southeast Europe by 2014. BP’s Vice-President for Shah Deniz Development, Al Cook, described the SEEP project as “another possible so...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Qatar Faces Challenge of Complex, Changing European Gas Market
...laysia has reportedly paid Qatar $15.40/mn BTU – up from the market’s typical $8.50/mn BTU at the beginning of the year. Competition From Coal LNG also has to compete against coal. The EU will stop subsidizing domestic coal production by 2014, making Europe more dependent on imports. Furthermore, Eu...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
Iranian Crude Production Faces Continual Decline
...sources and/or changes in technical modifications, including installing offshore platforms. Its start-up target is 2012-13, but 2014 is more likely. It was originally meant to provide 2bn cfd to go to NIOC’s Iran LNG project. Phase 11 was also meant to provide a further 1.9bn cfd for LNG. It may start up...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Barka-3, Sohar-2 Financing Shows Good Lender Appetite For Oman Power
...xt IPP, which is the 1.5gw plant being planned for Sur. This invites bids from developers to provide around 400mw of early power ahead of peak summer demand in 2013, and proceed with full commissioning ahead of 2014 peak summer demand. OPWP had originally planned to set up an IWPP at the al-Gh...
Volume: 53Issue: 40Published at Thu, 14 Oct 2010 -
Algeria Rediscovers Virtues Of Long Term Commitment
...ing to be short or long, you just have to look at the LNG supply/demand curve. If you lack LNG, the whole market worldwide is going to miss gas. If you have excess of LNG, the whole market of LNG is going to be long,” he continued. “We believe around 2014 Europe will be competing with Asia for LN...
Volume: 53Issue: 41Published at Mon, 11 Oct 2010