PRESIDENT SALEH INAUGURATES FIRST SHIPMENT OF LNG

BALHAF, Nov. 07 (Saba) - President Ali Abdullah Saleh inaugurated on
Saturday the export of the first shipment of the liquefied natural
gas project from a plant at the port of Balhaf on the southern coast
of Yemen.

The $ 4.5 billion LNG project is the largest economic project in the
country.

The project is believed to significantly contribute to boosting
Yemen's economy and industry development.

It is a clear message that Yemen is the land of investment and
already encourages foreign capitals to flow into Yemen, minister of
Oil and Minerals Amir Salim al-Aidrous has said.

The project provides 10.000 jobs for Yemenis who occupy about 75
percent of the project's total of employees. By 2015, 90 percent of
the workforce at the plant would be Yemeni people.

The French Total Company is the main shareholder in the project with
39.62 percent and the other shareholders include the Hunt Company
with 17.22 percent, the Yemen LNG Company with 16.73 percent, the
Social Insurance and Salary Authority with 5 percent, the S. Korean
SK Corporation with 9.55 percent, the S. Korean Gas Corporation
KOGAS with 6 percent and the Hyundai Company with 5.88 percent.

YA