05 July 2010
Gazprom may buy Hunt Oil's stake in Yemen's liquefied natural gas plant, possibly in tandem with Saudi Arabia, Russia's government said Wednesday.
Russian Prime Minister Vladimir Putin met with President Ali Abdullah Saleh on Wednesday in Moscow.
President Saleh arrived in Moscow last Tuesday coming from Cairo where he met with President Mubarak after participated in the Arab five party summit held in Tripoli.
Hunt has a 17.2 percent stake in the Total-led
project, which launched production in October of last year. It has two trains with a capacity of 6.7 million tonnes per year.
It sells two-thirds of its output in Europe and the United States and prices off the U.S. benchmark supply point at Henry Hub, Louisiana.
A deal to enter the Gulf LNG market would let Gazprom join fellow Russian energy company Rosneft, ROSN.MM as a potential supplier from the region.
Rosneft has a deal with United Arab Emirates-based Crescent Energy to seek deals in the Middle East and Africa, beginning with a small gas concession in Sharjah.
Russian interest in the region could be a boon to South Stream, a pipeline to carry natural gas to southern and central Europe, backed by the Kremlin as a rival to European plans for the Nabucco pipeline.
Gazprom may buy Hunt Oil's stake in Yemen's liquefied natural gas plant, possibly in tandem with Saudi Arabia, Russia's government said Wednesday.
Russian Prime Minister Vladimir Putin met with President Ali Abdullah Saleh on Wednesday in Moscow.
President Saleh arrived in Moscow last Tuesday coming from Cairo where he met with President Mubarak after participated in the Arab five party summit held in Tripoli.
Hunt has a 17.2 percent stake in the Total-led
It sells two-thirds of its output in Europe and the United States and prices off the U.S. benchmark supply point at Henry Hub, Louisiana.
A deal to enter the Gulf LNG market would let Gazprom join fellow Russian energy company Rosneft, ROSN.MM as a potential supplier from the region.
Rosneft has a deal with United Arab Emirates-based Crescent Energy to seek deals in the Middle East and Africa, beginning with a small gas concession in Sharjah.
Russian interest in the region could be a boon to South Stream, a pipeline to carry natural gas to southern and central Europe, backed by the Kremlin as a rival to European plans for the Nabucco pipeline.
By Mohammed al-Kibsi
© Yemen Observer 2010
