Yemen LNG

Yemen LNG

Yemen LNG is a 'natural gas liquefaction project in Balhaf, Yemen (48.1802°E 13.9854°N).

History

Yemen LNG Company was incorporated in 1995, but in 1997 the development of the LNG project was hit by the Asian economic meltdown.cite news | url = http://www.bg-group.com/media/archive_1998/pr-046.html | title = MOU Signed Between Yemen LNG and BG for Pipavav Project | publisher = BG Group |date = 1998-05-05 | accessdate = 2008-02-15] cite news | url = http://www.yementimes.com/article.shtml?i=776&p=front&a=3 | title = Yemen LNG is optimistic about the future | author= Peter Willems | publisher = Yemen Times |date = 2004-09-27 | accessdate = 2008-02-15] The project was launched only in August 2005 after signing three LNG supply contracts.cite news | url = http://www.rigzone.com/news/article.asp?a_id=24783 | title = Yemen LNG Development Launched | publisher = Rigzone |date = 2005-08-29 | accessdate = 2008-02-15] On 29 October 2007, Yemen LNG and Yemen state-owned oil and gas company Safer Exploration and Production agreed a 20-year contract, according to which Safer will grant the LNG plant with supply up to 12.5 billion cubic meter (bcm) of gas per annum from Yemen's Marib basin Block 18.cite news | url = http://uk.reuters.com/article/oilRpt/idUKL2966975420071029 | title = Yemen Safer to conclude LNG gas deal end Nov-exec | publisher = Reuters |date = 2007-10-29 | accessdate = 2008-02-15]

Technical description

The project will comprise new and existing upstream gas processing facilities including a transfer line linking processing units, a new spur-line to transport gas to the Ma’bar area and a convert|320|km|mi|0, convert|38|in|mm|-1 new main pipeline, which will connect the gas processing facilities to the LNG plant in Balhaf. The plant will consist two LNG trains with the total capacity of 6.7 million tonnes per annum. The contractors to build the LNG trains are Technip, JGC, and Kellogg Brown & Root.cite news | author=Nassir Shirkhani | url = http://www.upstreamonline.com/live/article124203.ece | title = Yemen LNG on starting blocks | publisher = Upstream Online |date = 2006-12-04 | accessdate = 2007-08-05] The project will be one of the country's first big project financing with total cost of US$4 billion, involving US$3 billion in debt being raised from a syndicate of banks.cite news | author=Christopher Mangham | url = http://www.reuters.com/article/rbssEnergyNews/idUSL1346126420080213 | title = RLPC-Yemen LNG selecting banks for project loan-bankers | publisher = Reuters |date = 2008-02-13 | accessdate = 2008-02-15] cite news | url = http://www.upstreamonline.com/live/article150292.ece | title = Yemen LNG players line up lenders | publisher = Upstream Online |date = 2008-03-07 | accessdate = 2008-03-07] Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Citigroup, ING Group, Royal Bank of Scotland, Société Générale, and Sumitomo Mitsui Banking Corporation are the initial mandated lead arrangers and bookrunners on a loan.cite news | author=Eric Watkins | url = http://www.ogj.com/display_article/322519/7/ONART/none/Trasp/1/Total-led-Yemen-LNG-arranges-LNG-project-financing/ | title = Total-led Yemen LNG arranges LNG project financing | publisher = Oil & Gas Journal |date = 2008-03-10 | accessdate = 2008-03-11]

The LNG plant was expected to start up in December 2008, but it is speculated that it could delay until 2009.cite news | author=James Herron | url = http://www.downstreamtoday.com/News/Articles/200802/LNG_Project_Delays_Set_to_Lift_Glob_8534.aspx | title = LNG Project Delays Set to Lift 2008 Global Gas Prices | publisher = Downstream Today |date = 2008-02-07 | accessdate = 2008-02-15]

Project company

The consortium is led by Total S.A. (39.62%) in cooperation with Hunt Oil (17.22%), Yemen Gas Company (YGC; 6.73%), SK Corp. (9.55%), Kogas (6.00%), Hyundai Corporation (5.88%), and the General Authority for Social Security & Pensions of Yemen (5.00%).

LNG exports

Yemen LNG has SPAs to supply:
*Suez - 2.5 mtpa,
*Total S.A. - 2.0 mtpa,
*Kogas - 2.0 mtpa.

All SPAs last from 2009-2029.

References

External links

* [http://www.yemenlng.com/ Corporate website]


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