Yemen LNG launches largest gas export project ever in Yemen |
|
Network this!
Conservative estimates suggest that government revenues over the next 20 years for the largest natural gas project in Yemen so far, a Yemen Liquefied Natural Gas Company (Yemen LNG)Yemen Liquefied Natural Gas Company (Yemen LNG)
initiative, will reach USD 30 to 50 billion.The project, which is 40 times greater than the average Yemeni large-scale investment, is expected to be one of the top contributors to the macro-economic growth and industrial development of Yemen over the coming years.
President Ali Abdullah Saleh last week inaugurated the first phase of the giant economic project for exporting liquefied natural gas from Balhaf in Shabwa.
The first phase of the project will involve the construction of a 322 kilometer-long pipeline from the gas fields in Safer, Mareb, to Balhaf Port on the coast of the Arabian Sea.
Project director Patrick Logo promised the first shipment of exported Yemeni natural gas from this project by June 2009, if operations proceed as planned.
He explained that the project included two laboratories for liquefying natural gas and two reservoirs for storage, as well as a number of other facilities such as an airport, full accommodation for workers, workshops and administration offices.
Twelve thousand employees will work in the project, 60 percent of them Yemenis. The project also has provided working opportunities to thousands of laborers who have worked in constructing the pipeline.
The president welcomed French investments in Yemen in the fields of energy and industry and affirmed that these investments would get all the support and encouragement needed for realizing join interests.
Oil and gas production started in Yemen in 1986 with production levels exceeding 380,000 barrels per day in 2006. The country is likely to continue to rely on its natural resources to provide for its population of over 20 million inhabitants.
The LNG project is the country's largest-ever industrial investment with a budget of USD 3.7 billion, and the decision to launch it in August 2005 was an important milestone for both the Yemeni government and Yemen LNGYemen LNG
shareholders. The location of Yemen is strategically advantageous as it allows access to all liquefied natural gas markets, both in the Asia Pacific basin as well as to expanding markets on either side of the Atlantic. Proven gas reserves are sufficient to produce and export 6.7 million metric tons of liquefied natural gas per annum for at least the next 20 years to its long-term customers in the North American and South Korean markets, and potentially also to new customers in the future.
By: Mahmoud Assamiee
© Yemen Times 2008
Community Comments (0) - 
Comment on this article 
Comment on this article
The opinions of the authors expressed herein do not necessarily state or reflect Zawya. Read our Comment Policy.
Loading ...
Zawya Comment Policy:
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Loading ...
Post Your Tender Notices for FREE
(No Sign-in Required)
Zawya Tenders is a Tender Notices service entirely driven by contribution
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
from issuers in both public and private sectors. It is not an e-tendering service and is entirely FREE.
As an Issuer, you can benefit from posting an unlimited number of Tender
Notices for FREE and reaching out to an online community of bidders.
The service also offers you a tool to track the interest of bidders to your
tenders 'live' online.
| Oil and Gas Tenders | Due Date |
Community Buzz
Stories
Companies
Most viewed companies by Community in the last 24 hrs
| Company Name | Country | Industry |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
| Dodsal Engineering and Construction | UAE | Construction and Design |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Emirates Telecommunications Corporation | UAE | Telecommunications Services |
| Al Azizia Panda United Company | Saudi Arabia | General Retailers |
| Agility Public Warehousing Company | Kuwait | Transportation Services |
| Hyundai Engineering and Construction Company - Saudi Arabia | Saudi Arabia | Construction and Design |
| Saudi Basic Industries Corporation | Saudi Arabia | Petrochemicals |
Projects
Most viewed projects by Community in the last 24 hrs
| Project Name | Country | Sector |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| ENEC - Nuclear Power Plant | UAE | Power and Water |
| Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 | UAE | Industry |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Dubai RTA - Dubai Metro | UAE | Infrastructure |
| Qatar Foundation - Sidra Medical and Research Center | Qatar | Real Estate |
| ADNOC/ConocoPhillips - Sour Gas Fields Development - Shah Field | UAE | Oil and Gas |
| SATORP- Jubail Refinery and Petrochemical Complex - Conversion Unit and Sulphur Package (Part 2) | Saudi Arabia | Oil and Gas |
| Abu Dhabi DOT - Abu Dhabi Metro | UAE | Infrastructure |
| Takreer - Ruwais Refinery Expansion - Offsites and Utilities Package | UAE | Oil and Gas |