LOCAL AND FOREIGN OFFICIALS INSPECT LNG PROJECT IN BALHAF

SHABWA, Jan. 11 (Saba) - Defense Minister Mohammed Nasser Ahmed, Oil
and Minerals Minister Amir al-Aydarus and the French Ambassador to
Yemen have paid a visit to Balhaf harbour for exporting gas and
Yemen LNG company in Shabwa province.

They have got acquainted with the components of the LNG project,
walked around the port and were briefed on the current works in the
project.

President Ali Abdullah Saleh launched last November the first
shipment of gas to international markets in Asia, Korea and to the
two Americas.

The project that has taken 15 years of constructions will generate
USD 30-50 billions to Yemen in its age of 25 years.

The Yemen LNG project is the largest and most important investment
ever made in Yemen with an investment of around US$ 4.5 billion. It
consists of supplying gas from Block 18, located in the Marib region
in central Yemen , through a 320 kilometres dedicated pipeline to
the LNG plant located at the port of Balhaf on the Arab Sea, south
east of Yemen.

The project shareholders are TOTAL (Project Leader) (39.62%), Yemen
Gas Company (16.73%), Hunt Oil Company (17.22%), SK Energy Co., Ltd.
(9.55%), Korea Gas Corporation - KOGAS (6.00%), the General
Authority for Social Security and Pensions of Yemen (5.00%) and
Hyundai Corporation (5.88%)

AF/AF