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‘Welcome Change’ In Qatar’s LNG Export Strategy, Says Fesharaki
...ndow of opportunity for Qatar’s LNG marketing efforts: “An expected buyer’s market was turned into a mild seller’s market very quickly and the market promises to become tighter. Still, by 2017 another buyer’s market is likely to emerge.” Qatar has normally sought long term contracts with cu...
Volume: 54Issue: 52Published at Mon, 26 Dec 2011 -
Chevron’s Neutral Zone Steam Injection Project To Cost $10-15Bn
...mping up steeply from first steam injection in 2017 to 100,000 b/d by mid-2019 and 300,000 b/d by end-2021, reaching full output in about 2026. This would plateau for two or three years before falling to 300,000 b/d by about 2040. Production from the Neutral Zone’s four onshore fields, South Umm Gu...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Final Phase In Battle Of The Caspian Gas Pipelines
...stern Thrace via Ukraine, Romania and Bulgaria. Ankara plans to make up for this loss by increasing its LNG imports to augment the flow of Russian gas via the Blue Stream pipeline until it can begin receiving the Shah Deniz Stage 2 gas in 2017. TANAP Twist The second of these developments was the an...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Despite Claim Of Breakthrough, Climate Change Conference Makes No Real Progress
...e conference could not agree to draw up a new pact for the governance of carbon dioxide emission and therefore agreed to extend the existing 1997 Kyoto Protocol – due to expire in 2012 – by a further five years, until 2017. The US never ratified the Kyoto Protocol because it did not include re...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Shah Deniz To Reach EU Gas Pipeline Decision By June 2012
...ogram. The Shah Deniz partners have said that the first Stage 2 gas will flow into Turkey in 2017, while the 10bcm/year capacity pipeline to Europe would be filled by 2019 at the latest. An apparent discrepancy between Mr Mammadyarov’s pronouncements and the consortium’s plans was addressed by Socar Pr...
Volume: 54Issue: 51Published at Mon, 19 Dec 2011 -
Gulf Arab Producers: We Can Guarantee Energy Security
...troleum (QP) to build a $6.4bn petrochemical plant to produce 1.5mn t/y of monoethylene glycol and 300,000 t/y of olefins (see page 17). If the final investment decision is taken the two firms will form a joint venture (Shell 20%, QP 80%) by the end of 2012 and start commissioning the plant in 2017. Qa...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Sasol Moves Ahead With Uzbekistan GTL Plant
...cision on the 34,000 b/d plant – Sasol 44.5%, Malaysia’s Petronas 11% and state-owned gas producer Uzbekneftegaz 44.5% – will be taken in mid-2013. It would then start up in 2017-18, Ed Cameron, Managing Director of Sasol Synfuels International tells MEES. The consortium will buy dry methane – ma...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
QP And Shell To Develop $6.5Bn Petchem Complex
...oducts manufactured at the new facility will primarily be marketed into East Asian growth markets, the statement added. The project is due to begin operation in 2017. Speaking after the signing, Mr Sada said that the project was part of Qatar’s strategy of building its chemicals industry, and “re...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds
...Middle East Economic Survey VOL. LIV No 50 12-Dec-2011 QATAR Moody’s Assigns Aa2 Rating To Qatar’s Global Bonds Moody’s Investors Service on 6 December assigned an Aa2 rating to the Qatari government’s recent $5bn global bond offering in three tranches: $2bn due in January 2017...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
ECAs To Provide $10Bn Of ENEC’s Nuclear Facility Financing
...ggested that funding will be requested later in the year, given the amount of money needed to be raised and that this is a new sector, not only for the UAE, but the GCC. The first plant is expected to start operating in 2017. The other three plants are scheduled to be completed and operational by 20...
Volume: 54Issue: 50Published at Mon, 12 Dec 2011 -
Qatar Raises $5Bn In Bonds, Defying Unstable Market
...turity Amount ($Bn) Price (BPS Over Treasuries) Yield (%) Coupon (%) November 2011 Issue Jan 2017 2 225 3.18 3.125 Jan 2022 2 262.5 4.63 4.5 Jan 20...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Engineering Firms Wait On West Qurna-2 Contract Award
...oject has been hard going, with demining, relations with local communities and negotiations with the joint operating committee all proving significant challenges, MEES understands. The West Qurna-2 development aims to hit its 1.8mn b/d plateau target by 2017. Statoil (15%) and state-owned North Oil Co...
Volume: 54Issue: 49Published at Mon, 05 Dec 2011 -
Petroceltic Eyes Production Debuts In Algeria And Kurdistan
...$1.7-1.8bn just to get to first gas,” Mr O’Cathain said. ʹAin Tsila partners – Petroceltic (56.625%), Sonatrach (25%) and Italy’s Enel (18.375%) – are provisionally looking at a first quarter 2017 production start-up. Petroceltic, which farmed out to Enel in April this year, is looking at se...
Volume: 54Issue: 48Published at Mon, 28 Nov 2011 -
Saudi Arabia Pens Nuclear Cooperation Deal With South Korea
...ntract in 2009 to build four nuclear plants in the UAE, set to be ready between 2017 and 2020, making the UAE the first Gulf Arab nation with nuclear power (MEES, 4 January 2010)....
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
TPAO Plans East Mediterranean Offshore Deal With Shell
...oduction by the beginning of 2017,” he said. Commenting on TPAO’s status, the minister said it had strengthened and can now enter partnerships with large firms. He said that the company might one day be capable of conducting searches with its own ship. Recently, the CGG Veritas seismic ship Oceanic Ch...
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
IAB Invites International Experts To Review UAE Nuclear Energy Plans
...e year 2020, official figures show. The UAE is planning to build four nuclear power plants by 2020 as part of a $20bn nuclear program scheduled to begin commercial operations by 2017 (MEES, 14 November)....
Volume: 54Issue: 47Published at Mon, 21 Nov 2011 -
UAE Outlines Financing And Fuel Intentions For $20Bn Nuclear Program
...velop four nuclear reactors in the UAE. In 2009, Korea Electric Power Corporation (KEPCO) was awarded the contract to complete the construction of the four plants from 2017 to 2020, to making the UAE the first Gulf Arab nation with nuclear power (MEES, 4 January 2010). The financing structure for th...
Volume: 54Issue: 46Published at Mon, 14 Nov 2011 -
MENA Turns To Solar Power For EOR As Well As National Grids
...the Neutral Zone, whose production is shared 50:50 by Kuwait and Saudi Arabia. Chevron says it could increase production by an additional 500,000 b/d. A final investment decision on the full field steam injection program is scheduled for late 2014, with first injection scheduled for late 2017. So...
Volume: 54Issue: 45Published at Mon, 07 Nov 2011 -
Turkey, Azerbaijan Sign Landmark Transit Agreement
...peline, a tariff tender for the transit of the 10 bcm/y of SD2 production that will become available by 2017-18, all welcomed the decision. It is seen as the final step before the full implementation of Europe’s Southern Gas Corridor strategy that aims to limit the EU’s dependence on Russian gas. The pa...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Greece Links DEPA Sale To ITGI, Nabucco’s Viability Questioned
...lgaria starts up. “TGI is ready to transport gas to Europe and the Balkan States from 2012-13, so it will be ready for transportation of Shah Deniz gas in 2017.” The Greek Minister also underlined that ITGI will not face any problems with its financing, a worry that has been exacerbated due to Gr...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011