ID :
72729
Wed, 07/29/2009 - 15:05
Auther :
Shortlink :
https://www.oananews.org//node/72729
The shortlink copeid
Cabinet seeks new markets for Yemeni gas
SANA'A, July 28 (Saba) - The cabinet
authorized in its meeting on Tuesday the Ministry of Oil and Minerals in
coordination with the
partners of the Yemeni Liquefied Natural Gas (LNG) project to seek for new markets
to export Yemeni gas.
The cabinet chaired by Prime Minister Ali Mujawar got acquainted with the
memorandum of the Oil and Minerals Minister Amir al-Aydarus on the suggestions of
Yemen Liquefied
Natural Gas Company - Yemen (LNG) in this regard.
Taken such step aims to serve the Yemeni gas marketing and reducing the risks
resulting from depending on a particular market, taking into consideration
acquiring good prices
in the process of marketing and sale.
The Ministry of Oil and Minerals has announced that LNG Company would commence gas
exports from Balhaf in the coming weeks.
Yemen has signed agreement to export gas to each of South Korea and the USA for 20
years.
The quantity of the gas sold to the American and Korean markets during the twenty
years is estimated to be 6.7 million metric tons and with predetermined prices to
the Korean
market, while the gas price sold to the USA is to be in accordance with supply and
demand.
Worth to mentioning is that the LNG project to be completed soon 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.
authorized in its meeting on Tuesday the Ministry of Oil and Minerals in
coordination with the
partners of the Yemeni Liquefied Natural Gas (LNG) project to seek for new markets
to export Yemeni gas.
The cabinet chaired by Prime Minister Ali Mujawar got acquainted with the
memorandum of the Oil and Minerals Minister Amir al-Aydarus on the suggestions of
Yemen Liquefied
Natural Gas Company - Yemen (LNG) in this regard.
Taken such step aims to serve the Yemeni gas marketing and reducing the risks
resulting from depending on a particular market, taking into consideration
acquiring good prices
in the process of marketing and sale.
The Ministry of Oil and Minerals has announced that LNG Company would commence gas
exports from Balhaf in the coming weeks.
Yemen has signed agreement to export gas to each of South Korea and the USA for 20
years.
The quantity of the gas sold to the American and Korean markets during the twenty
years is estimated to be 6.7 million metric tons and with predetermined prices to
the Korean
market, while the gas price sold to the USA is to be in accordance with supply and
demand.
Worth to mentioning is that the LNG project to be completed soon 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.
