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No Role For Iran In Nabucco, Says RWE
...ippers on a binding basis is expected to be commenced in the first half of next year. It added that a final investment decision is expected at the end of 2010 and that currently costs for construction of the 3,300km pipeline are estimated at approximately €8bn. Building is planned to begin in 2011 an...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Nabucco Begins Dialogue With Lenders, Says Mitschek
...tschek said, adding that the talks are aimed at determining the key financing parameters and other important project decisions. The 31 bcm/year capacity, 3,300 km gas pipeline is estimated to cost €8bn. A final investment decision is expected in 2010 and construction should begin in 2011. “The mo...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Economic Outlook Positive But Private Investment Low, Economists Say
...owth at 3.6% and 4.7% in 2010 and 2011, according to its base case estimates, amid rising oil production, stronger domestic demand on the back of the government’s expansionary fiscal and monetary policy, and a gradual resumption of credit growth. Morgan Stanley also expects inflation to de...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Somali PM Announces Piracy Eradication Effort
...Middle East Economic Survey VOL. LII No 45 9-Nov-2009 SOMALIA Somali PM Announces Piracy Eradication Effort The Prime Minister of the Transitional Federal Government (TFG) of Somalia, 'Umar 'Abd al-Rashid 'Ali Sharmarke, has announced a plan to eradicate Somali piracy by 2011...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
The Rush For Oil: Iraq’s Oil Capacity Potential And Regional Geopolitics
...oduction increments would come from the improved production rates in the producing field and the first commercial production in the green fields in 2011 and considerable capacity additions would be achieved by 2013. However, by 2016 and 2017 all fields will be hitting their production plateau target. The th...
Volume: 52Issue: 45Published at Mon, 09 Nov 2009 -
Qatar Rolls Out The LNG Mega-Trains
...the $12-18bn range given when the project was launched in 2006. Construction is 70% complete, says the QP source. “But it is not linear, the last 30% is going to be the hardest,” he says. Shell had hoped for start-up by late 2010, but this is believed to have slipped into early 2011, says the so...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Italy’s Bonatti Awarded $150Mn El-Merk Pipeline Contract
...pected to come on-stream in late 2011 or early 2012 with output capacities of 135,000 b/d of crude oil, 150,000 b/d of condensate and 30,000 b/d of LPG (MEES, 10 August)....
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Iran Threatens To Replace Sofregaz On Varamin Project
...cently expressed an interest in the project. These companies include Germany’s KBB, Russia’s Stroytransgaz and Poland’s POGC. The Yort-e-Shah gas storage facility had been expected to start operations in 2011. The natural gas storage facility in the city of Varamin, 70km southwest of Tehran, will ha...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Hanwha Wins Contract For Samra Power Plant Expansion
...ung Kim at the signing ceremony, which was attended by Jordan’s Minister of Energy and Mineral Resources Khaldun Qutaishat. The project, expected to be completed by 2011, should help address the kingdom’s growing electricity demands....
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Dubai To Be More Cautious In GRE Support, S&P Says
...andard & Poor’s Ratings Services (S&P) reports. The ratings agency estimates a total debt of $80-90bn owed by the emirate’s government and its related GREs, the majority of which will be due in 2011 and 2012. Cumulative debt repayments over the next three years for Dubai-based GREs are speculated to am...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
EU Calls For Ceasefire, Reforms In Yemen
...rliament and parliamentary groups as part of efforts to improve the electoral system, following the failure of the ruling party and opposition to agree to the holding 2009 elections. The council called for elections in 2011. “The EU will continue to accompany Yemen on this difficult reform path and of...
Volume: 52Issue: 44Published at Mon, 02 Nov 2009 -
Political Comment (2 November 2009)
...mid-2010 and withdraw altogether by the end of 2011. 'Abbas Sets Election Date In a move which probably signals the demise of Egyptian attempts to end to the rift at the heart of the Palestinian movement by mediating a rapprochement between Fatah and Hamas, Palestinian President (and Fatah le...
Volume: 52Issue: 44Published at Mon, 02 Nov 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 -
Political Comment (26 October 2009)
...r troop withdrawals, which calls for an end to combat missions by 31 August 2010 and the removal of all US forces by the end of 2011. Obama Engages With Sudan On 19 October President Barack Obama launched what could be a new era of engagement in Washington's problematic relations with Kh...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
Producing Countries Deliberate Higher Crude Prices For 2010 Budgets
.../B from this year’s $41/B, and is forecasting that Urals crude, its export grade, will reach $59/B in 2011 and $60/B in 2012. Nigeria has adopted $50/B, up from $45/B this year, and Finance Minister Mansur Muhtar has said he sees scope to hike this further if energy prices continue to remain hi...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UK Treasury Orders Financial Firms To Stop Trading With Bank Mellat, Iran Shipping Lines
...ansfer 80% of the once wholly state-owned bank into private hands by late 2011....
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
BofA Merrill Lynch Predicts Strong GCC Growth
...see an average real GDP growth of 8.01% in 2010, mostly due to its expansion in LNG capacity. As the non-oil sectors will likely be the main drivers of Qatari growth beyond 2011, the firm posits an unclear picture for the country’s long-term growth due to falling inflation (caused by a st...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
UAE To See Modest Economic Recovery in 2010, NBK Projects
...fice space by 50% by 2011. Inflation, meanwhile, is expected to remain low, perhaps below the estimated 2009 figure of 1.9%, due to much lower growth in labor costs, depressed housing rents, and a competitive retail market. A rise in UAE interest rates is also thought to be unlikely, due to the su...
Volume: 52Issue: 42Published at Mon, 19 Oct 2009 -
Ras Tanura Petrochemical Complex Expected To Cost $23-26Bn
...e London meeting the partners continued to thrash out all details of the agreements necessary to push ahead. However, with a project of this size, the lead times are long and the sponsors (advised by Royal Bank of Scotland and Riyad Bank) are not expected to seek financing until 2011. Before Ra...
Volume: 52Issue: 41Published at Mon, 12 Oct 2009 -
Pressure Mounting On Iran’s Energy Sector, Despite Closer Ties With China
...nsultant Mehdi Varzi. “Iran has had to go further and further east. So Chinese companies have come in, Russian companies have said they’re going to commit themselves. But the whole process is very belated… The Iran LNG project is supposed to come on-stream in 2011. I would say that it can only come on-st...
Volume: 52Issue: 40Published at Mon, 05 Oct 2009