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LNG

Yemen LNG ramps up Asian exports

Total and Yemen LNG plan to divert an additional 20 Yemeni cargoes to South Korea over the next three years to take advantage of high gas prices in Asia.

20 February 2012
Policy & Regulation

Israel to set up sovereign fund to manage gas profits

Israel’s cabinet is beginning discussions to establish a sovereign wealth fund (SWF) to manage revenues from its giant Tamar and Leviathan gas fields.

20 February 2012
Companies & Finance

Abu Dhabi, Kuwait to buy stakes in ONGC

Sovereign wealth funds in Abu Dhabi and Kuwait, among others, have told the Indian government that they would buy the 5% stake in Oil and Natural Gas Corp. (ONGC) the government is planning to sell in a public offering, The Economic Times reported on Monday.

20 February 2012
Companies & Finance

IEC confirms Tamar gas agreement

The board of directors for state-owned Israel Electricity Corp. (IEC) confirmed an agreement on Sunday for the offtake of gas from Israel’s Tamar gas field, a company spokesperson told Interfax on Monday.

20 February 2012
Global Markets

Iran nuclear programme

Iran may be willing to revive international negotiations over its nuclear programme with "new initiatives", Reuters reported on Friday.

17 February 2012
Pipelines, Storage & Power

Cyprus-Israel pipeline

Israeli Prime Minister Benjamin Netanyahu said that Cyprus and Israel are studying the possibility of a building a joint pipeline to export east Mediterranean gas to Europe and Asia, Bloomberg reported on Thursday.

17 February 2012
Exploration & Production

Iraq deputy PM warns threats to IOCs will hurt investment

Rosh Nori Shawis, Iraq’s Deputy Prime Minister for Economic Affairs, has criticised comments made by energy ministry spokesman Faisal Abdullah on Monday, claiming they could drive international oil majors out of Iraq completely.

16 February 2012
LNG

Kuwait Petroleum plans $5 billion of deals

Kuwait Petroleum plans to sign $5 billion worth of oil and gas deals “soon”, the state-run KUNA news agency said on Wednesday, according to a report in the Middle East North Africa Financial Network (MENAFN).

16 February 2012
Exploration & Production

Israeli PM to visit Cyprus

Israel’s Prime Minister Benjamin Netanyahu was due to visit Cyprus on Thursday as tensions over oil and gas exploration in the East Mediterranean Sea continue to simmer.

16 February 2012
Companies & Finance

Iraq threatens to expel Leighton Holdings

Iraq has threatened to expel Australian company Leighton Holdings from its oil and gas fields, following an investigation into alleged corruption, according to The Australian Financial Review.

15 February 2012
Exploration & Production

Israeli explorers lined up to bid in Cypriot licensing round

Israeli companies will likely to participate in Cyprus’ latest licensing round, which launched on Monday

15 February 2012
Exploration & Production

Technip wins contract for Saudi Arabia pipeline

France’s Technip has been awarded a contract by Kuwait Gulf Oil Company for the engineering, procurement, construction and commissioning assistance of a gas export pipeline running from Saudi Arabia to Kuwait, the company announced on Tuesday.

14 February 2012
Exploration & Production

Baghdad warns Total of 'full consequences' of signing KRG contracts

Iraq's Deputy Prime Minister for Energy Hussain al-Shahristani said Total would have to bear the “full consequences,” if it signed oil and gas exploration deals with the Kurdistan Regional Government (KRG) without Baghdad’s approval, Reuters reported on Sunday.

13 February 2012
Pipelines, Storage & Power

Mashav secures offtake contract for Tamar gas

Israel’s sole cement producer, Mashav Initiatives and Development, a subsidiary of Israel’s Clal Industries, has signed a $680 million agreement with the Tamar consortium to offtake 0.2 billion cubic metres per year of gas from the offshore Tamar field.

13 February 2012
Pipelines, Storage & Power

DEWA to announce Hassyan-1 IPP shortlist in March

The Dubai Electricity and Water Authority (DEWA) will announce a shortlist of bidders for the construction and operation of the Hassyan 1 gas-fired Independent Power Plant (IPP) in March. The state-owned utility had initially planned to announce the shortlist on 13 February.

13 February 2012
Exploration & Production

Hyundai reaffirms commitment to Musandam plant

South Korean conglomerate Hyundai has reaffirmed its commitment to the Musandam gas-fired power plant project in Oman, according to the Oman Daily Observer.

13 February 2012
Supply & Demand

Iran importing more than exporting

Iran is importing more gas than it is exporting, the Shana news agency reported on Sunday.

13 February 2012
Exploration & Production

Isolated Iran talks up Gulf gas deals

As the US and EU tighten sanctions against Iran, Tehran looks to strengthen relations with its Gulf neighbours through the development of shared gas fields.

10 February 2012
Exploration & Production

SK Innovation to bid in Iraq’s fourth fourth licencing round

South Korea’s SK Innovation will be allowed to participate in Iraq’s fourth licensing round after selling its stake in the Basian oilfield in the Kurdistan Region of Iraq (KRI).

10 February 2012
LNG

Kogas to import additional 2 mtpa from Qatar

Qatar's RasGas has agreed to sell South Korea's Korea Gas Corp (Kogas) an additional 2 million tons per annum of LNG over the next 20 years starting in 2013. RasGas will also supply incremental medium term volumes to Kogas from 2012 to 2016.

10 February 2012

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