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South Stream Questions Third Party Access Obligation
...ead within its original timetable and expected the final feasibility study for the entire pipeline system to be completed by the end of 2011. Mr Kramer said that South Stream does not increase the dependence of EU importing states on Russia, but primarily diversifies their import routes, even th...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Energy Ministry to Issue Bonds, Plans Third Interconnector to Armenia
...Middle East Economic Survey VOL. LIV No 23 6-Jun-2011 IRAN Energy Ministry to Issue Bonds, Plans Third Interconnector to Armenia Iran’s Minister of Energy Majid Namjou told IRNA on 29 May that his ministry will issue over the current Iranian year (21 March 2011 – 20 March 20...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Jordan Announces Price Cuts For Some Petroleum Products
...test price list will apply until 28 June. Product Prices Effective 1 June 2011 (Fils/Liter, Unless Otherwise Stated) 2011 2010 Product 1 Jun 2 May 1 Apr 4 Mar 28...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Oman Reveals Plan To Spend Up To $15Bn On Infrastructure And Projects By 2020
...clining mature oil fields (MEES, 30 May). “The company’s ambitious plans for 2011-15 call for extensive 3D seismic data acquisition, continued search for completely new geological opportunities, as well as the drilling and testing of approximately 140 exploration and appraisal wells,” the report said. ...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Qatar To Spend $4Bn On New Infrastructure Projects
...ve a three-year maturity and 5% yield, with QR33bn ($9.1bn) going to conventional banks and QR17bn ($4.7bn) to Islamic banks (MEES, 24 January). Shaikh Hamad stated that Qatar has achieved a record real growth rate of 16% in 2010 and is expected to raise this growth rate to 20% in 2011. He also sa...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Qatar’s Power Capacity Reaches 9GW As Ras Girtas Plant Inaugurated
...ying on 31 May. Qatar had raised its power capacity to more than 8.7gw by the start of 2011, from 4.263gw at the end of the second quarter of 2008 (MEES, 27 September 2010). The Ras Girtas power plant project has reached its design capacity of 2.73gw of electricity and 63mn g/d of potable wa...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Gulf Petrochemicals Expected To Reach 20% Share Of Global Market, Says GPCA
...id the Gulf Petrochemical and Chemical Association (GPCA) on 31 May. The Gulf petrochemical and chemical industry is on firmer footing in 2011 after the harsh economic downturn of 2008 and 2009, according to GPCA. It is seeing higher demand and prices and generating excellent financial results. “Th...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
Saudi Money Supply Growth Soars To Two-Year High In April, BSF Says
...ntal inflation and some base effects.” The Saudi Arabian Monetary Agency (SAMA) disclosed in its latest quarterly inflation report that it expected inflationary pressures in the kingdom to continue “at moderate rates” in the second half of 2011. “The block of state initiatives unveiled in the fi...
Volume: 54Issue: 23Published at Mon, 06 Jun 2011 -
South Stream Receives Qualified Support From EC
...reement, which will formally incorporate France’s EDF and Germany’s BASF into the consortium, should be completed by the end of 2011. By that time German utility E.ON, which already controls 15% of the Trans-Adriatic Pipeline, could also join in the project, Gazprom CEO Alexei Miller told a press co...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
TBL Submits New Pipeline Study To Bulgarian Authorities
...sessment study to the Bulgarian environment ministry. This incorporates the ministry’s corrections and “reservations” that resulted in the rejection of the original study by Sofia (MEES, 15 November 2011). In a 23 May statement, TBL said: “After a series of consultations with the Bulgarian environmental an...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Oman’s PDO Launches Five-Year Plan
...port for 2010 PDO said it would “invest heavily”, but did not give figures. “The company’s ambitious oil exploration plans for 2011-15 call for extensive 3D seismic data acquisition, continued search for completely new geological opportunities, as well as the drilling and testing of approximately 14...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Qatar’s 2011 Growth Driven By LNG Production, Says NBK
...Middle East Economic Survey VOL. LIV No 22 30-May-2011 QATAR Qatar’s 2011 Growth Driven By LNG Production, Says NBK Qatar’s real GDP is expected to expand by 15% in 2011 and 6% in 2012, following estimated growth of 17% in 2010, according to the National Bank of Kuwait’s (NB...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
EIB Allocates Up To €6Bn For Mediterranean Region Transition
...e €600mn worth of new EIB loans announced earlier for 2011. The funds will be deployed from July 2011 onwards. In Egypt, the EIB and the authorities have also identified priority projects in infrastructure development, transport, energy and water. Since 2002 it has mobilized investment of more th...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
UAE Real Non-Hydrocarbon GDP Growth Forecast To Hit 3.3% In 2011, IMF Says
...Middle East Economic Survey VOL. LIV No 22 30-May-2011 UAE UAE Real Non-Hydrocarbon GDP Growth Forecast To Hit 3.3% In 2011, IMF Says Supported by an encouraging global environment, the economic recovery in the United Arab Emirates is gathering pace, with non-hydrocarbon gr...
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
DEWA Selects McKinsey For Study On Clean Coal-Based Power Generation
...will add 2gw of generating capacity in 2011 by the completion of the Substation M Project at Jebel Ali (MEES, 31 January). Dubai’s peak demand increased last year by 9.6% compared with 2009....
Volume: 54Issue: 22Published at Mon, 30 May 2011 -
Egypt Closing In On $2.2Bn Rescue Loan From World Bank
...recasts for the 2011-12 fiscal year to around 2-3% compared with earlier estimates of close to 6%, and has looked to international donors for help fund a potential recovery. Mr Radwan added that an International Monetary Fund (IMF) delegation was expected to arrive in the capital within days in order to...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
OCI Acquires Stake In US Ammonia-Methanol Plant
...monia-methanol in Beaumont, Texas. OCI acquired 50% plus 1 share in the company through a joint venture with Janus Methanol, named Pandora Methanol. The plant is currently being upgraded, with ammonia production expected to commence in the fourth quarter of 2011 and methanol production is targeted to...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
NIGC Inaugurates Gas Storage Facility in Qom
...cility, at Sarajeh gas field in Qom province. He said the facility has a maximum storage capacity of 3.3bn cu ms and that NIGC expects to build up a store of approximately 1.28 bcm of gas in the first six months of the current Iranian year (21 March 2011 – 20 March 2012). “We predict that during the fi...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Lebanon Issues New Eurobonds To Refinance Maturing Debt
...ich was three times oversubscribed. Foreign investors have reportedly acquired 26% of that issue, which was also used to refinance maturing debt. Last November the minister indicated that Lebanon would have to repay some $3.4bn of maturing debt in 2011 (MEES, 22 November 2010). Ms Hasan noted th...
Volume: 54Issue: 21Published at Mon, 23 May 2011 -
Oxy’s Oman Field Unlikely To Hit Target
...anned to reach the target in 2011 (MEES, 15 November 2010) but has had to double the expected number of wells needed to inject steam into the reservoir, driving up the project’s cost from $2bn to $9bn. QNBC’s report says it will never reach the target due to the challenging geology. In 2010 the fi...
Volume: 54Issue: 21Published at Mon, 23 May 2011