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Uzbekneftegaz Signs Agreement With PetroChina For Gas Supply
...bekistan’s state firm Uzbekneftegaz for the export of 25 bcm/year of gas to China through a planned third branch of the system. The third line is scheduled to be commissioned in 2014. Construction will be funded through direct investment by PetroChina’s parent firm China National Petroleum Corporation (CN...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Jordan Announces Austerity Draft Budget For 2012
...5bn of this aid, which could be very timely in helping the kingdom’s growth in the next few years. The deficit (after grants) in 2012 will represent 4.6% of GDP, down from 6.2% in 2011, the minister pointed out. It is expected to fall further to 4% in 2013 and 3.5% in 2014. The kingdom’s pu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Qatar Awards $233Mn Power Deal To South Korea’s Hyosung
...oup, to construct eight electricity substations in Qatar by the start of 2014. “The contract was signed in November this year, and is hoped to be completed by January 2014,” a company spokesman told MEES. Under the terms of the $233mn deal signed with Qatar General Electricity and Water Co...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
SAFCO Awards Saipem Contract For Jubail Fertilizer Plant
...2bn ($533mn). The plant is expected to start commercial production in the third quarter of 2014. SAFCO will utilize its own resources to finance the project, according to SABIC’s Chairman and CEO and SAFCO’s Chairman, Muhammad al-Mady. The new project, he said, “will strengthen SAFCO’s operational pe...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Saudi Banks Show Big Appetite For Marafiq $1.2Bn Loan
...rrent 1.0gw production capacity to 2.5gw by 2014-15. The company is working on an expansion of its plant at Yanbu' that will take output from the current 1.0gw to 1.5gw by July next year. It is also adding the Yanbu' II power plant at the site, which will produce 750mw of electricity and 60,000 cmd of...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qurayyah $2.8Bn Power Project Financing Completed
...Samsung and the MENA Fund. The project company – Hajr for Electricity Production Company – will be 50:50 owned by the developers and SEC. It will deliver electricity to SEC under a 20‐year power purchase agreement (PPA) commencing on 30 June 2014. Germany’s Siemens will provide all major eq...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Kuwait And China Begin Construction Of $9.3Bn Refinery/Petchem Project
...March (MEES, 21 March). KPC has since said it is still on the lookout for an international oil company with which to partner on some of its 50% stake in the project. With plans to have it online and operational by 2014-15, the project will secure a stable outlet for Kuwaiti crude oil as KPC lo...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
TPAO And Shell Sign Farm-In Accord For Offshore Antalya Blocks
...ploratory drilling in 2014 or later. Turkey has had the blocks along its southern Mediterranean coastline open for tendering for several years. Most of Turkey’s offshore activity has been concentrated in the Black Sea in recent years, but discoveries offshore Israel and the start of drilling in Se...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
S&P Warns Of Refinancing Risks As Gulf Debt Matures
...rvices. Bonds and sukuk worth $25bn will mature in 2012, rising to $35bn in 2014, according to industry estimates, and this could prove challenging, especially given that capital market volatility and economic growth concerns are already curbing bond issuance. S&P said that potential Gulf sovereign bo...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
TPAO Plans East Mediterranean Offshore Deal With Shell
...ving our strategic weight from the Black Sea to the Mediterranean Sea,” he said. Mr Yildiz said that Shell would take over TPAO’s current Antalya operation and finalize it in two years. “In accordance with the seismic data, we plan to begin three years of drilling by the start of 2014,” the Turkish da...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
EBRD Joins World Bank’s Gas Flaring Program For FSU
...rget before 2014 while Gazprom Neft has estimated that it would not be able to collect more than 60% of its associated gas production. ...
Volume: 54Issue: 46Published at Mon, 14 Nov 2011 -
Tecnimont Wins Contract For Fertilizer Plant In Egypt
...d commissioning contract on a lump sum turnkey basis, to set up a new fertilizer complex in the industrial area of the Aswan Governorship. The overall project value is set at about $540mn and completion is expected by the end of July 2014, Tecnimont said in a company statement on 31 October. The fe...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Qatar Inaugurates Construction Of Barzan Gas Field Development
...Middle East Economic Survey VOL. LIV No 45 7-Nov-2011 QATAR Qatar Inaugurates Construction Of Barzan Gas Field Development Qatar inaugurated the construction of the $10.3bn, 1.4mn cfd Barzan gas project on 1 November. Barzan gas production is scheduled to start up in 2014, wi...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
UAE OPEC Governor Says Production Capacity On Target
...d the onshore 2bn cfd Habshan 5 gas processing plant expansion project. Both are targeted for operational start-up in early 2014. The Abu Dhabi Gas Industries (GASCO) Habshan 5 plant will also take associated feedstock from onshore oil fields, which are expanding production capacity to 1....
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
TAQA Looking To Iraq As Part Of Pursuit Of Synergies, New CEO Says
...oject in the Netherlands (MEES, 29 August) will all start to turn into cash in 2014-15. So I’m not expecting to see a dramatic acceleration in the company’s earnings until we get past that point,” he continued. Mr Sheldon also revealed that a group of company officials were due to travel to Ghana in...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan
...n per year by 2014. Meanwhile, Egyptian officials have said they have not yet received notice of a suit from EMG. The company told MEES in July that it had filed for international arbitration against the government for claims on damages of $8bn due to Egypt’s failure to meet the terms of its Ga...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Nabucco Schedule Slips Again, Kazakhstan Declines Trans-Caspian Offer
...peline would be ready to start shipping Azeri gas from Shah Deniz Phase 2 in 2018 rather than the earlier scheduled start-up of 2017. This means that the construction start-up date for the 31 bcm/y capacity, $14bn project may be pushed back to 2014. Mr Roiss is currently touring Central Asian ca...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Offshore Exploration To Continue, Says Cyprus, As Turkish Ship Enters Republic’s EEZ
...Turkey’s reason for insisting that Cyprus halt the work in Block 12 on the grounds that it would not be beneficial to Turkish-Cypriots. Gas from Block 12 is not expected to arrive on the island until 2014 – by which time a federal Cypriot government and an island-wide gas distribution system co...
Volume: 54Issue: 40Published at Mon, 03 Oct 2011 -
ACWA To Develop World’s Biggest IPP For SEC
...ne 2014. The $2.85bn project will see 77% funded via debt, split equally between dollars and riyals, said ACWA. The dollar facilities will include tranches funded or covered by export credit agencies (ECAs) US ExIm, Eulerhermes and Kexim. Participating international banks include HSBC, KfW, St...
Volume: 54Issue: 39Published at Mon, 26 Sep 2011 -
Cyprus Government Says Drilling In Block 12 Will Proceed Despite Turkish Objections
...tural gas to the island by pipeline sometime in 2014, either from the Israeli Leviathan gas field or any discovery made in Block 12. The two companies have also proposed that a multi-faceted LNG facility be constructed on the island’s southern coast near the main power generation facility at Vasilikos (ME...
Volume: 54Issue: 38Published at Mon, 19 Sep 2011