Jul 21 2006 |
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Qatar industry: Development of AKG 2 project moves ahead
COUNTRY BRIEFING
FROM THE ECONOMIST INTELLIGENCE UNIT
Development of the Al Khaleej Gas Phase 2 (AKG 2) project has moved ahead with the signature in mid-July on a development plan by ExxonMobil Middle East Gas Marketing, the Qatari government and Qatar Petroleum. Marketed output from AKG2 is to be some 1.25bn cu ft/day of natural gas. In addition, the project will produce annually some 15m barrels of condensate, 1m tonnes of natural gas liquids and 870,000 tonnes of ethane. The total cost of the onshore and offshore components of the project has been put at US$3bn. AKG 2 is scheduled for completion in 2009. According to Qatar Petroleum, this second phase is being developed in conjunction with the Ras Laffan liquefied natural gas (LNG) expansion, with the on-shore plant to be located near other Ras Laffan facilities.
Major contracts for the project were also awarded in July. A consortium of Chiyoda of Japan and Technip of France was selected for the engineering, procurement and construction contract for the onshore portion of the project. That work involves construction of a gas processing train with the total value of the contract put at US$1.6bn. In addition, J Ray McDermott is to build the offshore facilities for the project.
The Al Khaleej Gas project, which is being developed in phases, sells North Field natural gas for both domestic use and export. The initial phase, which was completed in 2005, was implemented in order to provide gas to the Ras Laffan power plant and the Oryx gas-to-liquids plant. Potential probably exists for further phases in this development programme—among the customers that have been mooted for this gas are Kuwait and Bahrain, should those pipeline sales eventually go ahead.
SOURCE: Business Middle East
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