KAZAKHSTAN - Rich in reserves of oil, metals, and minerals, Kazakhstan harbours healthy potential for the industrial gases business and some of this promise is now being realised with infrastructure development plans.
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Industrial gas potential moves forward in Kazakhstan
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Sunday, July 5, 2009
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Iran to invest $70bn in gas projects
IRAN - Iran is planning to invest around $70bn in two major offshore natural gas fields by 2015. An official from the National Iranian Oil Company has said $40bn would be needed to complete remaining projects in the South Pars field in a five-year economic plan, which runs until 2015. Another official has mentioned Iran plans to take a Euro1bn bond with Asian banks to finance the development of South Pars.
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Repsol makes two new oil discoveries offshore Spain
SPAIN - Repsol has made two new offshore oil discoveries in the Spanish Mediterranean. The Montanazo D-5 and Lubina-1 wells are located 45 kilometres from the coast of Tarragona, where the company is developing similar satellite fields. Repsol, with a 75% stake, is the operator of the first of these discoveries, in a consortium with Gas Natural (17.7%) and Cepsa (7.3%). In the second discovery, Repsol is the sole holder.
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Qatar and Poland sign 20-year LNG contract
POLAND - Qatar Liquefied Gas Co. III (Qatargas) has signed a 20-year agreement to sell Poland 1 million tonnes/year of LNG. Poland’s Treasury Ministry said value of the contract is about $550 million/year. Poland will receive the LNG at a terminal under construction at Swinoujscie, scheduled for completion in 2015.
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Pertamina, PGN to build LNG terminals separately in Indonesia
INDONESIA - In a bid to accelerate the development of liquefied natural gas terminals, state energy companies PT Pertamina and PT Perusahaan Gas Negara (PGN) - which earlier planned to jointly build two floating LNG terminals - have now decided to work separately. Pertamina's president director Karen Agustiawan said on Thursday that her company and PGN would finish the projects in West Java and in North Sumatra faster if the two worked separately.
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Trans-Sahara gas pipeline deal signed
NIGERIA - Nigeria, Algeria and Niger today signed an agreement to build a multi-billion dollar gas pipeline across the Sahara that could send up to 30 billion cubic metres a year of supplies to Europe. "We have the expertise and I don't think there is a problem with finance in this project. I don't think there is a problem with a market. The market is there," Reuters quoted Algerian Energy Minister Chakib Khelil as saying at a ceremony in Nigeria's capital Abuja.
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YPF group wins a bid for offshore Uruguay exploration
URUGUAY - YPF SA has won a bid to explore for oil in offshore blocks near the coast of Uruguay, the company said in a statement yesterday. YPF will have a 40% stake in the exploration, sharing the other 40% with Petrobras Uruguay, a unit of the Brazilian oil giant Petroleo Brasileiro SA and Portugal’s GALP, which will hold a 20% share. YPF will operate the deepwater exploration block 3 while Petrobras will operate the shallow water exploration block 4, both located along the coast of Punta del Este.
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