Yemen to export gas in weeks

SANA'A, July 16 (Saba) - Deputy Minister of Oil and Mineral Abdullah Dares said on
Thursday that the Yemen Liquefied Natural Gas (LNG) project will commence gas
exports from Balhaf in the coming weeks.

Dares told the weekly 26 September that the LNG project is about to be completed
soon, noting that it would be the largest source of income for Yemen in the coming
twenty years.

Yemen's revenues will reach $ 30 to 50 billion in the twenty next years that will
contribute to improving development and economic progress.

LNG project depends on gas produced in block No. 18 in Marib governorate, where the
gas reserves reach 9.15 trillion cubic feet (TFC) in addition to 0.7 TCF of probable
reserves.

The Yemen LNG project comprises new and existing upstream gas processing facilities
including a 25 km, 20-inch transfer line linking the two gas processing units in the
gas fields of block 18 in Marib, a 320km, 38-inch new main pipeline, which will
connect the gas processing facilities to the new liquefaction facilities in Balhaf,
and a spur line to transport domestic gas to the Ma'abar area of Dammar governorate.

The project is providing several thousand job opportunities during the construction
phase with around 700 permanent posts and an additional 700 for contracted service
providers over the lifespan of the project.

The French Total company is the project leader of the LNG project with about 39.62
percent. The share of Yemen represented by Yemen Gas Company (YGC) amounted to 16.73
percent. The other shareholders in the LNG project are Hunt with 17.22 percent,
South Korean (SK) Corporation with about 9.55 percent, Korea Gas Corporation (Kogas)
(6.00 percent), Hyundai Corporation (5.88%) and the General Authority for Social
Security and Pensions (GASSP) with about 5.00 percent.

SA/AF