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Turkmenistan And Eni Sign Cooperation Agreement
...ose operating in Azerbaijan’s offshore section and that the gas be exported through Azerbaijan and Georgia to Turkey. The Nabucco Gas Pipeline project is scheduled to come into operation in 2014 with supplies of Azerbaijani and Iraqi natural gas, but Nabucco consortium members are keen to add Tu...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Nabucco Claims To Be Most Economic Gas Route For Europe, Suppliers
...pex Start Project Owner (bcm/y) (km) (km) (km) (€Bn) Date Nabucco 25.5-31.0 3,300 + 690 = 3,990 8.0 2014 RWE/OMV/MOL/BEH/Botas/ Transgaz South St...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
GE Capital Issues Five-Year, $500Mn Sukuk
...rporate issuer of sukuk (Sharia compliant bonds). Proceeds are expected to be used for general corporate purposes. MEES learns that the settlement date was on 27 November; the GE sukuk will then mature on 26 November 2014. The transaction was priced at 175 bps over five-year Treasury yields for a re-of...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Takreer Awards Ruwais Port Construction Contract To Korea’s GS
...port facilities at Ruwais, 250km west of Abu Dhabi. The port will handle crude oil and products. Earlier this month GS won a $3.1bn contract to build a residue fluid catalytic cracker for a new refinery at Ruwais. The plant is set to be completed by 2014, as part of the wider Ruwais Refinery Ex...
Volume: 52Issue: 48Published at Mon, 30 Nov 2009 -
Iraq’s Technical Service Contracts – A Good Deal For Iraq?
...ew of the call on OPEC and the likely pathway for Iraq’s oil production. In our most likely case, the call on OPEC only rises above 2007 levels after 2014 and reaches some 42mn b/d in 2022. In our high case for call on OPEC, due to a more rapid rise in global oil demand and weaker non-OPEC supply, th...
Volume: 52Issue: 47Published at Mon, 23 Nov 2009 -
Regional Implications For BG’s Renegotiated Gas Price In Oman
...an.” By 2014 steam for the operation will be supplied by a cogeneration unit and like Qarn Alam, the Amal project aims to minimize the natural gas burned to create steam by capturing the waste heat from the power plant turbines. The peak production from the two fields is expected to be three times th...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
North Africa Embraces Renewable Energy
...geria has abundant gas reserves. But domestic consumption is expected to double over the next 10 years, from around 27 bcm/year now, with a significant proportion of this extra demand coming from new power plants, while exports are due to rise by nearly 40% by 2014 (MEES, 19 October, 8 June). Co...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Cyprus Seeks 20-Year Supply Of LNG
...wer generation. The contract will call for the shipment of LNG to the island by 2014, leaving a window for the shipment of small quantities before that. Meanwhile, plans are in place for the construction of a storage and regasification terminal at Vasilikos by 2014. The initiative is being handled by...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Saudi Aramco Expands Petrochemicals Operations
...ceive benzene and paraxylene feedstock from the aromatics complex. A propylene unit will utilize ethylene and a mixed C4 stream, and will also supply the derivatives units. If the project gets final approval, construction should begin in 2011 with start‐up due late in 2014. Fujian involved ex...
Volume: 52Issue: 46Published at Mon, 16 Nov 2009 -
Tunisia Touts Export Potential, As Gas Projects Unfold
...15% on 2007, and compared with annual production of around 3 bcm. Furthermore, as ETAP’s Mr Becheikh himself said, Tunisia aims to cover 60% of its energy consumption with natural gas by 2014, compared with 40% in 2007 and just 5% in 1980. But exploration activity has produced good results si...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
No Role For Iran In Nabucco, Says RWE
...d first gas is to be transported in 2014. RWE is the most recent member to join the Nabucco consortium. Other members are: OMV (Austria), MOL (Hungary), Transgaz (Romania), Bulgaria Energy Holding (Bulgaria) and Botas (Turkey – MEES, 2 November, 12 October)....
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Takreer Awards UAE Refinery Contract To Korea’s GS
...sidue fluid catalytic cracking unit at the UAE’s Ruwais refinery. The plant is expected to be completed by January 2014, GS said. The new plant’s construction is part of a larger initiative by Takreer, which handles ADNOC’s refining operations, to expand capacity at Ruwais for production of LPG, pr...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Tough Investment Climate Darkens North African Upstream Prospects
...pected on-stream in 2014, will feed into the planned pipeline connecting all the tight gas fields in the remote southwest to Algeria’s main gas hub at Hassi R’Mel. Another important gas development that has suffered unforeseen delays is the installation of a low-pressure compression project at the Ti...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
NBK Signs $279mn Loan Agreement With KIPCO
...five years. The loan, which matures in 2014, precedes the $500mn seven-year international bond which KIPCO issued earlier this year. “This deal is consistent with our strategy of actively managing our funding base through extending maturities and diversifying our currency and investor mix. It is...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
WWF Report Calls For Low-Carbon Re-Industrialization By 2014
...Middle East Economic Survey VOL. LII No 43 26-Oct-2009 WWF Report Calls For Low-Carbon Re-Industrialization By 2014 The World Wildlife Fund (WWF) has called for a global shift to a low-carbon economy by 2014, otherwise the world risks climate change at a runaway pace. In a re...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
Sonatrach Shortlists Firms For Tiaret And Algiers Refinery Projects
...ing on-stream in 2011, but which now looks unlikely to be completed before 2014 at the earliest. Sonatrach’s head of downstream 'Abd al-Hafid Feghouli told MEES in November last year that the company expected to see the project’s total costs reduced from $6bn to $5bn, due to the fall in co...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
GCC Refining Capacity Will Continue To Increase In The Medium Term, Says Moody’s
...rtially mitigated by the fact that many of these projects are likely to become operational after 2014, which is when, according to IEA forecasts, oil demand will have returned to 2008 levels. GCC Expected Additional Refining Capacity By 2015 Source: Moody’s estimates, BP, OPEC. Stable Outlook Fo...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
IHS CERA Says OECD Oil Demand Has Peaked
...w we are seeing the tempering of the last significant driver of oil demand in developed countries – petroleum for transportation.” Emerging markets will drive future world oil demand, according to IHS CERA. It forecasts that oil demand will increase from 83.8mn b/d in 2009 to 89.1mn b/d in 2014...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
Laffan Condensate Refinery Starts Operations
...e plant foundation stone was laid in April 2006 (MEES, 24 April 2006). The refinery, which cost around $800mn to construct, was originally scheduled for start-up in the fourth quarter of 2008, but before it was even finished Qatar has said it planned to double its capacity by 2014 (MEES, 10 Se...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009 -
Delek And Avner Oil Look To Cyprus Waters After Tamar Gas Discovery
...2012. But due to its location, in depths of more than 15,000ft in 5,500ft (1,677ms) of water, some observers believe that 2014-15 is the most likely start-up date (MEES, 22 June). Noble said a contract has been awarded to shoot 1,200 square miles of 3D seismic on its acreage in Israel in 2H09, an...
Volume: 52Issue: 39Published at Mon, 28 Sep 2009