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Nord Stream Expects Bank Responses In Early October
...et about 25% of this additional requirement by connecting the European gas pipeline network to Russia, which boasts the world’s largest gas reserves. Nord Stream’s first of two parallel pipelines will be operational in 2011. Each line is approximately 1,220km long, with a capacity to transport so...
Volume: 52Issue: 37Published at Mon, 14 Sep 2009 -
Syria Has No Surplus Gas For Export At Present
...cond half of 2010. The Jihar Gas Project is expected to start up in 2011 with full production capacity of 3.7mn cmd. Syria Prepares For Egyptian Gas Flow To Lebanon Meanwhile, Syrian oil sources report that preparations are underway in Syria for the flow of Egyptian gas to Lebanon from AGP, wi...
Volume: 52Issue: 37Published at Mon, 14 Sep 2009 -
UAE Central Bank Targets Cheaper Interbank Lending
...both national and foreign banks and are subject to review at the beginning of 2011. In October last year, the Ministry of Finance had stipulated Tier one capital ratio of 11% by end June 2009 and 12% by end June 2010. Fitch Ratings said that the clarification by the central bank appears to ha...
Volume: 52Issue: 36Published at Mon, 07 Sep 2009 -
Ex-Im Bank Approves Funding For Al Dur IWPP
...pacity of 1.234gw and a desalination capacity of 48mn gallons/day (218,000 cmd) of water and is due to start initial production in 2010, with full commercial operation to commence in 2011. After recently selling 30% of Al Dur to Bahraini investors (the Social Insurance Organization of Bahrain, In...
Volume: 52Issue: 36Published at Mon, 07 Sep 2009 -
Nile Commercial Bank Rescued Again
...velopments at Nile highlight the problems for the south, which will be holding a referendum on its independence in January 2011, the fact that the authorities have been willing to step in at least illustrates the desire for financial stability. Southern Sudan has a conventional banking system, which is ov...
Volume: 52Issue: 36Published at Mon, 07 Sep 2009 -
Syria And Turkey Ink MOU To Expedite Integration Of Gas Networks
...ncluding a number of agreements, including a short-term sales agreement to supply Syria with 0.5-1.0bcm/year from Turkey’s gas supplies for a period of five years starting in 2011.The MOU was signed during a visit by Turkish Energy Minister Taner Yildiz to Damascus to meet his Syrian counterpart Sufian 'Al...
Volume: 52Issue: 35Published at Mon, 31 Aug 2009 -
North Africa Forges Ahead With Refinery Upgrades, Expansions More Elusive
...amant that the project will be completed by the second quarter of 2014. However, he concedes that the global financial crisis, which caused difficulties in securing financing and procuring materials, has delayed the project and driven up the costs. It was originally due on stream in 2011 at an estimated co...
Volume: 52Issue: 34Published at Mon, 24 Aug 2009 -
Putin’s Visit To Ankara Signals Partial Shift In Russian Gas Strategy
...vember 2010. This is the second time that Russia has brought forward South Stream project deadlines. Originally work on the Black Sea routing was not intended to start before late 2011 or early 2012. Now Russia appears to be in a hurry. Ukraine, no matter what the composition of the next government in...
Volume: 52Issue: 34Published at Mon, 24 Aug 2009 -
Political Comment (24 August 2009)
...erican plans to withdraw all combat troops from Iraq by August 2010 and to leave the country altogether by the end of 2011. Hamas Confronts Salafists With the Palestinian leadership already divided between the secular nationalists of Fatah in the West Bank and the Islamists of Hamas in Gaza, a fu...
Volume: 52Issue: 34Published at Mon, 24 Aug 2009 -
QAPCO Secures $200Mn Murabaha Facility From Qatar Islamic Bank
...the two companies. The LDPE-3 project is scheduled to be completed in December 2011 and will be the last in a matrix of connected plants, which includes Qatofin, and Q-Chem. The Qatofin and Q-Chem 2 projects completed their financing on 16 November 2005 (MEES, 28 November 2005). Q-Chem 2’s to...
Volume: 52Issue: 33Published at Mon, 17 Aug 2009 -
BP Plans $2Bn Investment In Algeria By 2014
...ploration wells, which it expects to drill in the next three years. Separately, Algeria’s biggest international oil producer Anadarko announced in a quarterly earnings conference call on 4 August that it expects to see first oil from its 150,000 b/d El Merk project in late 2011. The US company’s CEO Ji...
Volume: 52Issue: 32Published at Mon, 10 Aug 2009 -
GCC Power Grid Links Four Gulf Countries
...scheduled for completion in 2011, with Oman scheduled to follow shortly thereafter. The project is one of the first pan-GCC schemes to get off the ground and could provide a model for regional cooperation (MEES, 27 July). It was planned back in 1991, and construction started in 2004, with the op...
Volume: 52Issue: 31Published at Mon, 03 Aug 2009 -
SABIC Returns To Profitability In 2Q09
...d 2011, the underlying value of SIP operations would still be well below original expectations. Consequently, the intrinsic recovery prospects for bondholders are lower than previously assumed, said S&P. It acknowledged that the ongoing financial commitment of the parent company SABIC (A+/Stable/A-...
Volume: 52Issue: 31Published at Mon, 03 Aug 2009 -
SABIC Awards Samsung $300Mn Air Separation Contract
...paration process. Samsung will execute the licensing, engineering, procurement and construction of the ASU, which is scheduled for start-up in 2011. The company said that despite the global economic downturn, this contract with NIGC was the fourth it had been awarded during July, the others being the Sk...
Volume: 52Issue: 31Published at Mon, 03 Aug 2009 -
GCC Power Grid Goes Live, Provides Model For Regional Cooperation
...wait, while the line that will link in the UAE is scheduled for completion in 2011, with Oman expected to follow shortly thereafter (see map). The initial connection is a milestone for a project that was planned back in 1991 – construction started in 2004 – and it could usher in a new era of re...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Faltering Upstream Progress Undermines Libyan Output Targets
...,000 b/d development plan for some of the oil and gas finds it has made in Area 47 in the Ghadames Basin. Verenex says it could achieve first production by 2011, which makes it potentially one of the fastest field development projects on the table in Libya, and has said that future production sc...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
EC Proposes Emergency Response Mechanisms For Future Gas Crises
...isting national storage and LNG import capacities. The draft envisages regional gas supply sharing mechanisms “on a case by case basis” so that all member states are able “by 2011 at the latest” to cover the loss of their principal gas import source for 60 days based on peak winter demand. EC Energy Co...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
Abyei Ruling Bolsters Sudan’s Comprehensive Peace Agreement
...a whole. The acceptance of the court ruling, especially by the Government of South Sudan, is notable given that it places Heglig, one of the country’s biggest, albeit oldest, oil fields squarely within the north’s borders. With a referendum due to take place in 2011 that will allow the south to op...
Volume: 52Issue: 30Published at Mon, 27 Jul 2009 -
OPEC Slashes Demand Forecasts
...10 2011 2012 2015 2020 2025 2030 North America 23.7 23.4 23.4 23.5 23.6 23.4 23.1 22.8 Western Europe 14.8 14.6 14.6 14...
Volume: 52Issue: 28Published at Mon, 13 Jul 2009 -
Gulf Power/Water Privatization Continues, As Saudi Arabia Conducts Review
...ditional capacity to begin operating in summer 2011 and become fully operational in the summer of 2012, through two 650mw plants at Barka 2 and Sohar 2. At Al Ghubrah output will be increased under a development that splits the site into East and West locations....
Volume: 52Issue: 28Published at Mon, 13 Jul 2009