Energy

Qatar: Sourcing gas to Europe

Already the world's largest exporter of liquefied natural gas (LNG), Qatar has unveiled plans to more than double its gas production, a timely move as the country looks to step up its energy supplies to European markets.

On April 8, Mohammed Saleh Al Sada, Qatar's minister of state for energy and industrial affairs, said gas production would be raised to 77 million tonnes by 2010, up from the present output of 31 million tonnes. The planned increase will be the result of new fields coming on line and further investments to boost output, he said.

Qatar to provide US$900m to finance Indonesian power plants

The Qatari government has agreed to finance the construction of two coal fired power plants with an investment of US$900m in Riau.

One of the projects is the 300 megawatt PLTU Batang Paranap in the regency of Indragiri which will cost around US$300m, Alwi Shihab, a special envoy of the president for the Middle East said.

GCC countries to invest an estimated US$120 billion over the next 10 years

The Gulf region is seeing an annual average increase in demand for power at around 8 per cent, according to industry experts. With renewable water availability expected to fall and populations rapidly rising, the region's authorities are having to continuously increase supplies, said Neil Walker, an energy expert.

NoozzVIEW; Oil politics heats up

The ever turbulent world of oil politics has taken a new twist as the result of a busy visit to Iran - the world's second largest producer - by the Secretary General of the 13-strong producers' cartel, OPEC, in which Saudi Arabia is regarded as the heaviest hitter - but which has twice turned down requests from its close ally, the US, for increases in output in order to dampen soaring prices.

These continued upward again on April 7 when they jumped above US$107 on what appeared another move towards the previous all-time record high of US$111.80 reached on March 17.

Oman: Oil still greases the wheels

While Oman, like most of the other Gulf states, is seeking to diversify its economy away from a dependency on fossil fuel exports, oil remains the driving force on which the sultanate relies, at least for the time being.

On April 2, the Omani Centre for Investment Promotion and Export Development (OCIPED) announced that the country's non-oil exports for 2007 had reached US$3.4 billion, up 59% on the US$2.1 billion of 2006. Aiman Ambusaidi, the centre's director of export development, said the group's objective was to lift non-oil exports to more than US$5 billion by 2010.

Parliament to endorse Iraqi national oil company

The oil and gas committee in Iraq's parliament said that it has received a draft law for the establishment of a new national oil company and that it will inject capital into the North Oil Company [Kirkuk] and South Oil Compnay [Basra], according to Abdul-Hadi al-Hassani, vice president of the committee.

Al-Hassani explained that the proposed national oil company will incorporate other companies in the future, including the Maysan Oil Company and Thi-Qar Oil Company, pointing out that the new company [or enterprise] will be charged with drilling, exploration, transportation and storage of oil.

Shell signs accord for China to buy liquid natural gas from Qatar

China signed a 25-year agreement with Royal Dutch Shell PLC and Qatargas to buy three million tons of liquid natural gas a year from Qatar. The agreement signed in Beijing will supply liquid gas from the Qatargas 4 project in Qatar, which is still under development, to PetroChina's gas terminal, Shell said in a statement.

Gulf Finance to build US$10bn Kazakhstan energy city

The Bahrain-based Gulf Finance House has signed an agreement with Kazakhstan to establish a US$10 billion Energy City in the former Soviet State, taking its energy-focused business cluster concept from the Middle East, North Africa and Asia to Central Asia.

The 'Caspian Energy Hub' will be developed in Aktau on the Caspian coast. Kazakhstan, the world's largest landlocked country, borders on a significant part of the Caspian Sea.

Chevron, Total seek oil deal in Iraq

Oil giants Chevron Corp. and Total have confirmed that they are in discussions with the Iraqi Oil Ministry to increase production in an important oil field in southern Iraq.

The discussions are aimed at finalising a two-year deal, or technical support agreement, to boost production at the West Qurna Stage 1 oil field near Iraq's second-largest city of Basra.

Yemen signs oil contracts in seven blocks

Yemen has signed oil production sharing agreements with 10 oil companies in seven exploration areas.

Yemen plans to raise its oil output to around 500,000 barrels per day (bpd) in 2010 with these and other deals with international companies. Production at the end of 2007 stood at 317,000 bpd. Among the companies that have signed deals were Austria's OMV, India's state oil company Indian Oil Corp, Norway's DNO and independent oil firm Kuwait Energy Company.

Qatar to open 7.8m tonne UK pipeline

Qatar will start exporting liquefied natural gas (LNG) to the United Kingdom in the summer when a new production line with a capacity of 7.8 million tonnes will be commissioned, the chief of the exporting company has said.

Another production line with an equivalent capacity will be launched early next year to raise the total LNG exports to Britain to 15 million tonnes per year, said Faisal Al Suweidi, Director General of the state-controlled Qatargas.

Pakistan seeks liquefied natural gas from Qatar to overcome energy shortage

Pakistan seeks energy supplies from Qatar Liquefied Natural Gas for Sui Southern Gas Company (SSGC) Limited terminals in order to meet with the pressing energy demand and to overcome the energy shortage.

NoozzVIEW; Saudi-Kuwaiti refinery deal

The world's largest oil producer and the fourth biggest have come to a landmark deal for the construction of an oil refinery near their common border.

The complex deal which has taken several years to complete and which has risen dramatically in price during the continuing rise in oil prices - which this week have topped a record US$115 per barrel on the New York Exchange - was finally sealed at talks at the highest level between Kuwaiti Emir Sheikh al-Ahmad al-Sabah and King Abdullah of Saudi Arabia.

US signs nuclear power cooperation deal with UAE

The United States and the United Arab Emirates signed an agreement on Monday to cooperate on a peaceful nuclear energy programme, with the UAE promising to be a "responsible" partner.