Tuesday, Feb 08, 2011
DUBAI (Zawya Dow Jones)--Yemen LNG, in which Total S.A. (TOT) is a shareholder, said Tuesday it had signed a contract with Yemen's Tanmia Oil and Construction Ltd. to build new liquefied petroleum gas, or LPG, storage facilities that will help supply the local market.
"The new facilities will increase Yemen's LPG production capacity by 12,000 barrels per day from summer 2011," Yemen LNG said in an emailed statement.
The storage facilities, located near a cryogenic unit being built by Yemen LNG on block 18 in Yemen's Marib province, will be operated by state-owned Yemen Gas Co. and Safer, according to the statement.
The LPG will meet increasing demand in the Yemeni market and the project will generate an added value of around $170 million annually for Yemen Gas Co., which will commercialize the LPG, Yemen LNG said.
-By Tahani Karrar-Lewsley, Dow Jones Newswires; +9714 446-1692; Tahani.Karrar@dowjones.com
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(END) Dow Jones Newswires
08-02-11 1053GMT
