Yemen Exports First Liquefied Natural Gas

17:240, 7/11/2009 (Nov 7, 2009)

DUBAI, November 7 (RIA Novosti) -

Yemen sent on Saturday its first liquefied natural gas shipment (LNG), the Saba news agency reported.

The cargo - 149,000 cubic meters of LNG from an LNG plant in Balhaf on the Arabian Sea - will go to South Korea's Korea Gas Corp.

The plant went into operation in mid-October and will produce 6.7 million tons of LNG a year when it reaches full capacity.

The $4.5 billion project, the country's largest economic project, is expected to help boost Yemen's economic and industrial development.

France's Total is the main shareholder in the project with 39.62%; other shareholders include Hunt Oil Company (17.22%), the Yemen LNG Company (16.73%), the Social Insurance and Salary Authority (5%), the S. Korean SK Corporation (9.55%), the S. Korean Gas Corporation KOGAS (6%) and the Hyundai Company (5.88%).

Background:

Total, Shell shortlisted for Yamal LNG project - Gazprom

21:0426/06/2009

MOSCOW, June 26, 2009, (RIA Novosti) -

Total and Shell have made it onto the shortlist of participants in the Yamal liquefied gas project in northwest Siberia, a Gazprom deputy CEO said on Friday.

The Russian energy giant chose the Yamal Peninsula as a region of strategic interest in January 2002. The development of the Yamal fields, according to estimates, could produce annually up to 310-360 billion cubic meters (bcm) of natural gas by 2030.

"We have agreed to have Total and Shell shortlisted for the Yamal LNG [project]," Alexander Medvedev said, adding that Japan's Mitsui and Mitsubishi were expected to obtain minority stakes in the project.

The two Japanese companies hold 12.5% and 10%, respectively, in the Sakhalin II oil and gas project being developed by Gazprom in the Russian Far East. Royal Dutch Shell controls a 27.5% stake.

The Gazprom official said if an investment decision is taken, the LNG plant would process resources from the Tambeiskaya group of fields, including the South Tambeiskoye field owned by Novatek, Russia's largest independent gas producer.

"We have agreed to hold talks with Novatek to consider their proposals on developing the field, and we will work together," Medvedev said. Gazprom controls about 20% in Novatek.

Gazprom, which saw a 57% plunge year-on-year in gas exports to Europe in January-April, said earlier in June it was set to "increase the pace of producing and supplying liquefied natural gas."

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