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Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan
...n per year by 2014. Meanwhile, Egyptian officials have said they have not yet received notice of a suit from EMG. The company told MEES in July that it had filed for international arbitration against the government for claims on damages of $8bn due to Egypt’s failure to meet the terms of its Ga...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Political Comment (31 October 2011)
...21 October the UN Security Council intervened in the continuing political crisis in Yemen with Resolution 2014, in which, inter alia, it "strongly condemns the continued human rights violations by the Yemeni authorities, such as the excessive use of force against peaceful protestors as well as th...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
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 -
Nabucco Schedule Slips Again, Kazakhstan Declines Trans-Caspian Offer
...peline would be ready to start shipping Azeri gas from Shah Deniz Phase 2 in 2018 rather than the earlier scheduled start-up of 2017. This means that the construction start-up date for the 31 bcm/y capacity, $14bn project may be pushed back to 2014. Mr Roiss is currently touring Central Asian ca...
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 -
Offshore Exploration To Continue, Says Cyprus, As Turkish Ship Enters Republic’s EEZ
...Turkey’s reason for insisting that Cyprus halt the work in Block 12 on the grounds that it would not be beneficial to Turkish-Cypriots. Gas from Block 12 is not expected to arrive on the island until 2014 – by which time a federal Cypriot government and an island-wide gas distribution system co...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011