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Riyadh Set To Push For Saudi Power Privatization In 2018
...rkets to fund capital programs. Most recently SEC secured a $1.75bn international syndicated loan, taking to $36.2bn the total of outside funding raised since 2007 – including a $13.2bn ‘soft loan’ from the Ministry of Finance. SEC’s lending was highest during 2014-16, with $3.7bn raised in both 2014 an...
Volume: 60Issue: 51/52Published at Fri, 22 Dec 2017 -
Iraq Adds Upgrades To Gas-Fired Plans, Keeping Pressure On Rising Supplies
...ard further upgrading projects, given that only 16.91GW of existing capacity is operable out of an installed capacity of 26.15GW. Yet despite the strain on Iraq’s gas resources, gas turbine plants are expected to provide up to 56% of Iraq’s electricity this year, up from 47% in 2014 (see tables). On...
Volume: 60Issue: 49Published at Fri, 08 Dec 2017 -
Algeria Eyes 2.4gw Power Capacity Boost By Mid-2018, But Money Is Tight
...ojects which have been announced by Sonelgaz in recent years – 26 plants with a combined capacity of 13.7GW were listed by Sonelgaz as scheduled to begin commissioning during 2014-16 (MEES, 6 November 2015). While some of these have been completed and others are progressing, the overall rate of progress ha...
Volume: 60Issue: 47Published at Fri, 24 Nov 2017 -
Abu Dhabi’s Taqa: Power Steady But Upstream Slumps With Capex Cuts
...20.71bn ($5.64bn) in Q1-3 2014 when Brent prices averaged $107/B. POWER VS UPSTREAM: THE HARE & THE TORTOISE 2014 also marked the peak of the relative importance of the firm’s upstream oil and gas segment relative to the much more steady earnings mainly from Abu Dhabi’s power market wh...
Volume: 60Issue: 46Published at Fri, 17 Nov 2017 -
Abu Dhabi Completes 1.6GW Gas-Fired Plant
...d Construction and Hyundai Engineering, and Italy’s Ansaldo Energia (MEES, 11 July 2014). DASH FROM GAS The additional 1.24GW of combined cycle gas turbine (CCGT) capacity will add up to 170mn cfd of fuel to Adwea’s gas requirement. The project is the last large gas-fired power plant in Abu Dh...
Volume: 60Issue: 45Published at Fri, 10 Nov 2017 -
Aramco Targets 12GW Powergen Capacity By 2020, Seeks Supply License
...mpressors and turbines used in Aramco petroleum and petrochemicals facilities. The company last week announced a plan to manufacture gas turbines at the site under a long-term supply agreement with Aramco signed in 2014. While US conglomerate General Electric does not manufacture turbines or generators in...
Volume: 60Issue: 42Published at Fri, 20 Oct 2017 -
Algeria Plots Unlikely Power Capacity Boost Whilst Rejecting Foreign Funding
...utarfa said Sonelgaz had spent $5.5bn in 2015 and $5.6bn in 2014. Algiers was forced to increase power sector investment after blackouts in 2012 triggered violent protests. Sonelgaz hiked generating capacity by 2.8GW ahead of 2013 summer demand, by speeding the completion of two large power plants and de...
Volume: 60Issue: 37Published at Fri, 15 Sep 2017 -
Iraq Sparking Up Gas-Fired Capacity, Despite Fuel Supply Constraints
...quire 1.2bn cfd of gas. FEDERAL IRAQ PEAK POWER GENERATION (MW) Plant type 2014 2015 2016 *20...
Volume: 60Issue: 36Published at Fri, 08 Sep 2017 -
Saudi Electricity Taps $1.75bn Loan For Capacity Expansion
...hieved. The deal is SEC’s largest syndicated loan to date. It takes to $36.2bn the outside funding the utility has secured since 2007, although the biggest single contribution was a $13.2bn ‘soft loan’ from the Ministry of Finance in 2014 (see table). The syndicated loan is SEC’s first foray into the in...
Volume: 60Issue: 34Published at Fri, 25 Aug 2017 -
Bahrain: $670mn CCGT Funding
...oject. The Line 6 plant will have 540,000 tons/year output capacity, taking total smelting capacity to 1.5mn t/y. The power plant will normally burn gas, requiring up to 240mn cfd at full capacity. Bahrain’s annual gas output has been steady at 1.5bn cfd during 2014-16. Bahrain is expanding capacity of...
Volume: 60Issue: 32Published at Fri, 11 Aug 2017 -
EBRD Kick-Starts Egypt Solar With $500mn Investment In 16 PV Projects
...ypt,” says EBRD head of power and energy Harry Boyd-Carpenter. “We have been working with the Egyptian authorities since 2014 to help them fulfil their ambitious goals in this area. We are delighted now to be in a position to commit very significant financing to projects, which we expect to start co...
Volume: 60Issue: 24Published at Fri, 16 Jun 2017 -
Dubai Claims New Solar Pricing Record, This Time For CSP
...cording to an authoritative 2014 Baker Institute paper citing an Abu Dhabi energy official. Since then LCOEs for both CSP and PV solar capacity plunged (see charts), driven in particular by tumbling solar technology costs. However, there is some concern in the industry that developers are making di...
Volume: 60Issue: 23Published at Fri, 09 Jun 2017 -
Mena Renewables: Capacity Growing But At Half The Global Pace
... 2016 MW % MW % 2015 2014 20...
Volume: 60Issue: 18Published at Fri, 05 May 2017 -
Jordan Pushes Ahead With Oil Shale-Fired Power Plant, Lining Up More Solar
...so signed an agreement with Sacos, owned by a Saudi investor, which official news agency Petra said in March 2014 plans to deploy oil shale technology developed in Russia. Besides these potential oil extraction projects, Jordan’s energy ministry has a second power generation agreement, with Jo...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Algiers Aims For The Sun; Is Its Head In The Clouds?
...diterranean, but there has been no concrete progress. Desertec was one such scheme to bring power to Europe from the desert, but it has been considered defunct since 2012 (MEES, 3 April 2014). Although Algeria briefly flirted with the Desertec scheme, it has been reluctant to let go of its monopoly on el...
Volume: 60Issue: 17Published at Fri, 28 Apr 2017 -
Iraq Fires Up 1GW Gas-Fired Capacity But Is There Enough Gas?
...ad of 13.4GW in 2015, up from 12.3GW in 2014. One thing is clear: the inefficient burning of liquid fuel still dominates the power generation sector, despite a gradual rise in the gas share from 28% in 2013 to 36% last year (see table). The increased supply of gas to power plants comes both th...
Volume: 60Issue: 16Published at Fri, 21 Apr 2017 -
Egypt Tenders Wind Project As Three Megaprojects Begin Supplying Grid
...ck of investment, improved terms have encouraged upstream operators to invest. New upstream developments under way are expected to raise Egyptian gas production above 5mn cfd later this year for the first time since January 2014 (MEES, 31 March). However, new power projects under construction are ex...
Volume: 60Issue: 14Published at Fri, 07 Apr 2017 -
Rosatom Starts Work On New Iran Nuclear Plant, Cementing Russia’s Mena Presence
...Construction at Bushehr began just before Iran’s president visited Moscow where he signed several deals including one for Russian nuclear fuel. Russian state nuclear firm Rosatom has begun building its second reactor at Bushehr on Iran’s Gulf coast under a 2014 agreement. Both parties ap...
Volume: 60Issue: 13Published at Fri, 31 Mar 2017 -
UAE Generators Struggle To Take Their Foot Off The Gas
...ban development. In 2015 Fewa imported a total 12.587TWh of electricity from Abu Dhabi Water and Electricity Company (Adwec). Adwec says the peak import rate was 2.264GW, a 12% increase on 2014’s peak of 2.024GW. Like the other UAE electricity authorities, Fewa is also considering alternatives to ga...
Volume: 60Issue: 10Published at Fri, 10 Mar 2017 -
Saudi Ups Power Profits Ahead Of Planned Sell-Off
...s not clear how SEC would fare, given that average customer payments were lower than generating costs. The results for 2016, however, suggest that the company’s finances are now better balanced. SEC’s 57.3% fall in net profits from 2014 to 2015 underlines another problem facing the company, be...
Volume: 60Issue: 04Published at Fri, 27 Jan 2017