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Beirut Eyes LNG Import Decision, Touts Reserves
...e Lebanese daily al-Nahar reported on 14 March. The first tranche of the issue will mature in 2016 or 2017, while the second will run until 2026. The ministry needs to refinance maturing Eurobond debt in 2012. Lebanon remains one of the most highly indebted countries in the world with a debt/GDP ra...
Volume: 55Issue: 12Published at Mon, 19 Mar 2012 -
EU Representative In Baku Calls For Nabucco Readjustment
...nsortium, with regard to exporting 10 bcm/year of gas to Europe beginning in 2017-18. Confirming that Nabucco was still in the bidding for Shah Deniz Stage 2 gas (MEES, 5 March), he said that “the talks aim to change the conception of the project [Nabucco]. There are many proposals. Naturally, the proposals ch...
Volume: 55Issue: 11Published at Mon, 12 Mar 2012 -
Edison And DEPA Persist With ITGI, Pursue Other Supply Options
...seidon partners, Italy’s Edison and Greek state utility DEPA, could take their final investment decision by mid-2013, whereas the preferred TAP project aims to become operational in 2017. “If Shah Deniz expects to ship gas to the European Union by 2018 then a final investment decision (FID) will have to be...
Volume: 55Issue: 10Published at Mon, 05 Mar 2012 -
Baghdad Eyes $500Bn Energy Spend To 2030
...enarios – with the figures referring to nominal 2017 production targets. The study is being coordinated by the office of Thamir Ghadhban, head of the Iraqi Prime Minister’s Advisory Commission. Originally it was to have been completed by the end of the first quarter, but the intrinsic complexity of...
Volume: 55Issue: 10Published at Mon, 05 Mar 2012 -
TAQA Taps Malaysia Investors Via $215Mn Ringgit Issue
...nditions, said the spokesperson. In December TAQA issued Regulation S/144a bonds, which allow them to be sold into Europe and the US respectively. The issue includes $750mn of bonds due in March 2017 at 4.125% and $750mn due in December 2021 at 5.875%....
Volume: 55Issue: 10Published at Mon, 05 Mar 2012 -
Saudi Aramco And Pertamina Sign MOU For 300,000 B/D Java Refinery
...utheast Asia,” a Saudi Aramco press release said. The Saudi firm is adding 1.2mn b/d to domestic refinery capacity by the beginning of 2017 (see table) and also has signed an MOU with China’s state-owned CNPC for a new 200,000 b/d refinery in China’s southwest Yunnan province. But the refinery drive is...
Volume: 55Issue: 09Published at Mon, 27 Feb 2012 -
Shah Deniz 2 Gas Supply Decision Likely To Be Taken In Stages
...rope beginning in late 2017 (MEES, 19 December 2011). The situation has been exacerbated by the announcements of a proposed Trans Anatolian Pipeline (TANAP) as an alternative to Nabucco’s cross-Turkey section and also a plan to expand Turkey’s Natural Gas Transmission System (NGTS). However, Socar CEO Ro...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
Chevron Outlines Major Tengiz Investment Plan
...crease Tengiz production to 800,000-850,000 b/d by late 2017. Tengiz is Kazakhstan’s largest field and in 2010 produced 567,000 b/d of oil, 44,000 b/d of natural gas liquids and 822mn cfd of gas. He said that the Caspian Pipeline Consortium (CPC) pipeline, in which Chevron holds 15% equity, has so far ha...
Volume: 55Issue: 08Published at Mon, 20 Feb 2012 -
KNPC Brings Total Onboard As $9Bn China Refinery Project Talks Progress
...edstock necessitates multiple secondary units. And MEES understands that even if the partners reach a final investment decision soon, completion might not be until 2017-18, although Mr Zanki expects it “much sooner”. In addition to a 296,000 b/d crude distillation unit, the Guangdong refinery will, an...
Volume: 55Issue: 05Published at Mon, 30 Jan 2012 -
Sudan Admits To Confiscating South Sudan’s Oil As Dispute Talks Resume
...ing anything. Even their rights of ownership to these blocks are in question,” he said. South To Double Its Oil Output By 2017 South Sudan’s Minister of Petroleum and Mines Stephen Dhieu Dau also announced that the country had set out plans to double its oil production to 700,000 b/d in the ne...
Volume: 55Issue: 04Published at Mon, 23 Jan 2012 -
‘Welcome Change’ In Qatar’s LNG Export Strategy, Says Fesharaki
...ndow of opportunity for Qatar’s LNG marketing efforts: “An expected buyer’s market was turned into a mild seller’s market very quickly and the market promises to become tighter. Still, by 2017 another buyer’s market is likely to emerge.” Qatar has normally sought long term contracts with cu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Shah Deniz To Reach EU Gas Pipeline Decision By June 2012
...ogram. The Shah Deniz partners have said that the first Stage 2 gas will flow into Turkey in 2017, while the 10bcm/year capacity pipeline to Europe would be filled by 2019 at the latest. An apparent discrepancy between Mr Mammadyarov’s pronouncements and the consortium’s plans was addressed by Socar Pr...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Sasol Moves Ahead With Uzbekistan GTL Plant
...cision on the 34,000 b/d plant – Sasol 44.5%, Malaysia’s Petronas 11% and state-owned gas producer Uzbekneftegaz 44.5% – will be taken in mid-2013. It would then start up in 2017-18, Ed Cameron, Managing Director of Sasol Synfuels International tells MEES. The consortium will buy dry methane – ma...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
QP And Shell To Develop $6.5Bn Petchem Complex
...oducts manufactured at the new facility will primarily be marketed into East Asian growth markets, the statement added. The project is due to begin operation in 2017. Speaking after the signing, Mr Sada said that the project was part of Qatar’s strategy of building its chemicals industry, and “re...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds
...Middle East Economic Survey VOL. LIV No 50 12-Dec-2011 QATAR Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds Moody’s Investors Service on 6 December assigned an Aa2 rating to the Qatari government’s recent $5bn global bond offering in three tranches: $2bn due in January 2017...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
ECAs To Provide $10Bn Of ENEC’s Nuclear Facility Financing
...ggested that funding will be requested later in the year, given the amount of money needed to be raised and that this is a new sector, not only for the UAE, but the GCC. The first plant is expected to start operating in 2017. The other three plants are scheduled to be completed and operational by 20...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Engineering Firms Wait On West Qurna-2 Contract Award
...oject has been hard going, with demining, relations with local communities and negotiations with the joint operating committee all proving significant challenges, MEES understands. The West Qurna-2 development aims to hit its 1.8mn b/d plateau target by 2017. Statoil (15%) and state-owned North Oil Co...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Petroceltic Eyes Production Debuts In Algeria And Kurdistan
...$1.7-1.8bn just to get to first gas,” Mr O’Cathain said. ʹAin Tsila partners – Petroceltic (56.625%), Sonatrach (25%) and Italy’s Enel (18.375%) – are provisionally looking at a first quarter 2017 production start-up. Petroceltic, which farmed out to Enel in April this year, is looking at se...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Saudi Arabia Pens Nuclear Cooperation Deal With South Korea
...ntract in 2009 to build four nuclear plants in the UAE, set to be ready between 2017 and 2020, making the UAE the first Gulf Arab nation with nuclear power (MEES, 4 January 2010)....
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
TPAO Plans East Mediterranean Offshore Deal With Shell
...oduction by the beginning of 2017,” he said. Commenting on TPAO’s status, the minister said it had strengthened and can now enter partnerships with large firms. He said that the company might one day be capable of conducting searches with its own ship. Recently, the CGG Veritas seismic ship Oceanic Ch...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011