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Jordan Enjoys Cheap LNG Prices, But For How Long?
...ices stayed at 2014 levels ($99/B for Brent) throughout the next decade, savings from LNG could exceed $400mn/year (1.3% of GDP), he says. Also, longer term, LNG’s relative competitiveness could increase, if the terms of the supply contract were adjusted to take account of lower oil prices once the in...
Volume: 58Issue: 28Published at Fri, 10 Jul 2015 -
Egypt Goes Import Crazy In Bid To Curb Power Cuts
...intenance between October 2014 and May this year while more than 3.6GW was added to the national grid. This more than meets the estimated power deficit of 2.5GW, according to Mr Yamani (see p8). The budget of state gas firm EGAS to import LNG for the 2015-16 financial year which starts on 1 July will be...
Volume: 58Issue: 26Published at Fri, 26 Jun 2015 -
Cyprus Shuts Gas Tender
...s. The tender seeks gas volumes rising from 19.5-30.4 trillion BTU in the first year to 25-43 trillion BTU by 2025. First gas is to be delivered between 1 January 2016 and 30 June 2017, with DEFA thought to favor bids that stipulate an earlier start date (MEES, 18 April 2014). MEES understands th...
Volume: 58Issue: 26Published at Fri, 26 Jun 2015 -
Iraq To Revise Pipeline Route To Jordan
...nsortium was formed last year and asked to submit a preliminary technical proposal for the project, known as the Strategic Crude Oil Export Pipeline Infrastructure Project. This was shelved when IS, then known as ISIS, launched a lightning offensive capturing Iraq’s second city of Mosul in June 2014. IS la...
Volume: 58Issue: 25Published at Fri, 19 Jun 2015 -
LNG Market Faces Considerable Demand Upside Amid Low Prices
...is month for more LNG shipments via its floating storage and regasification unit at the Red Sea port of Ain Sukhna (MEES, 29 May). While the Damietta LNG plant was closed at the end of 2012, only six LNG cargoes were exported in 2014 from Egyptian LNG causing volumes to collapse to 0.33mn tons. Th...
Volume: 58Issue: 24Published at Fri, 12 Jun 2015 -
Morocco’s $4.6bn LNG Scheme Continues To Drum Up Interest
...rocco’s favor. With more LNG projects starting up in the coming years in Australia, the US and other regions, it is increasingly a buyers’ market – especially in terms of price. Morocco is an additional target for producers and portfolios looking to sell future or flexible LNG. As per its December 2014...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Egypt Boosts LNG Import Plans
...llant FSRU at Ain Sukhna. The vessel has been leased to state gas firm EGAS for five years under a deal signed in November last year (MEES, 7 November 2014). Mr Molla tells MEES that he expects four cargoes to arrive per month and once the second FSRU arrives, eight. With eight LNG cargoes ar...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Oman LNG Faces Further Revenue Downside
...OMAN Oman LNG Faces Further Revenue Downside State-owned Oman LNG recorded an annual drop in revenue of around 9% to $4.074bn in 2014, as export volumes fell from 8.9mn tons/year in 2013 to 7.95mn t/y last year, the company said in its Annual Report last week. The 2014 export volume pu...
Volume: 58Issue: 20Published at Fri, 15 May 2015 -
Qatar Launches $1bn LNG Boil-Off Facility
...erations at JBOG date back to October 2014, with jetty boil-off gas recovered from over 500 ships since then. Emissions were not helped by the previously-routine flaring of boil-off gas at Ras Laffan. More common global practice has long been to either use boil-off gas for power generation, or to re-li...
Volume: 58Issue: 19Published at Fri, 08 May 2015 -
Italy Ups Algerian Gas Imports As Lower Oil Prices Feed Through Into Contracts
...ALGERIA Italy Ups Algerian Gas Imports As Lower Oil Prices Feed Through Into Contracts Exports of Algerian gas to Italy averaged 22.6mn m³/day for April (800mn cfd), twice 4Q 2014 levels. Volumes are set to keep increasing this summer, as the impact of lower crude prices gradually fi...
Volume: 58Issue: 18Published at Fri, 01 May 2015 -
Oman’s LNG Strategy Hinges On New Supplies, Production
...OMAN Oman’s LNG Strategy Hinges On New Supplies, Production Oman has a tough future as an LNG exporter. Lower prices and growing domestic demand mean volumes and revenues both fell for 2014, and are set to fall further. Oman’s LNG exports were lower than expected in 2014 amid gr...
Volume: 58Issue: 17Published at Fri, 24 Apr 2015 -
MENA LNG Exporters Set To Lose Market Share
...ALGERIA/UAE/REGIONAL MENA LNG Exporters Set To Lose Market Share Algeria and Abu Dhabi were the only MENA LNG producers recording an increase in exports in 2014, according to the latest statistics from the International Group of LNG Importers (GIIGNL). Algeria helped boost supply fr...
Volume: 58Issue: 16Published at Fri, 17 Apr 2015 -
Political Differences Aside, UAE Taps Iran For Possible Gas Supply
...o over price (MEES, 15 August 2014). DUBAI-IRAN TRADING LINKS The UAE has mixed feelings about Iran and the prospect of its rehabilitation into the world order, should a framework agreement with world powers to curb its nuclear ambitions conclude with a comprehensive accord at the end of Ju...
Volume: 58Issue: 15Published at Fri, 10 Apr 2015 -
Noble Piles Pressure On Israeli Authorities In Monopoly Case
...raeli government for scaring off Australian LNG experts Woodside, who last May backed out at the last minute from paying $2bn for a 25% stake in Leviathan (MEES, 23 May, 2014). “One factor contributing to Woodside’s withdrawal was their inability to reach agreement with the Israeli government on va...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Kuwait LNG Plans
...exibility to supply LNG during periods of high seasonal demand in summer. KNPC signed a five-year contract with Golar LNG to charter a floating storage and regasification unit (FSRU) in 2014. The floating unit has an import capacity of 7.9 bcm/year (760mn cfd, 5.6mn tons/year of LNG), with a 170,000m3 st...
Volume: 58Issue: 14Published at Fri, 03 Apr 2015 -
Moroccan LNG: GDF Suez Joins Shell, TAQA
...cember 2014) – enough to fuel 3GW of power generation capacity. The proposed LNG terminal forms part of Morocco’s wider plans to develop gas and power infrastructure worth $4.6bn. In addition to storage facilities, this will involve upgrading two combined cycle power plants of 150MW each, and in...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
Fujairah Bolsters Bunkering Credentials
...jairah (MEES, 10 October 2014), which is also a delivery point for the Dolphin Gas pipeline that supplies Qatari gas by pipeline to Abu Dhabi, the UAE’s northern emirates and Oman – with Fujairah the jumping off point for the Omani section of the pipeline (see map, p3). VOPAK EXPANDS Vopak Horizon Fu...
Volume: 58Issue: 13Published at Fri, 27 Mar 2015 -
His Mission Accomplished, Qatar’s Attiyah Bows Out
...bsidies. “We cannot just sit and wait for the price to go up again. The scenario of doing nothing will not work.” NO SPENDING CUTS Doha said this week that it was adopting an oil price of $65/B for the 2014-15 budget. This now applies until end-December with Doha switching to a calendar year for fi...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
Morocco Subsidies
...tail price of diesel, gasoline and fuel oil was raised by 14%, 20% and 27% respectively, yielding an estimated saving for the budget of 0.7% of GDP for the year. In February 2014 the authorities then ended subsidies on the domestic prices of gasoline and industrial fuel oil (excluding fuel used for el...
Volume: 58Issue: 12Published at Fri, 20 Mar 2015 -
US Production Hits Record 9.4mn B/D In February After Record 2014
...US Production Hits Record 9.4mn B/D In February After Record 2014 v 20...
Volume: 58Issue: 11Published at Fri, 13 Mar 2015