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Dubai Gascities inks pact to develop energy clusters in Yemen |
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09.12.2009 |
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Dubai Gascities Limited JV between Dana Gas and Crescent Petroleum are to roll out energy clusters across the Middle East has reached an agreement with the Yemeni Government to possibly develop a gas city in Yemen.
The company has been rolling out the gas city concept in Iraq and Egypt that will help tap potential energy resources across the region.
The signing took place at Yemeni PM Mr Ali Mohammad Mujur's office. He expressed his optimism about the success of the concept and his confidence that it would be of great benefit to the Yemeni people and economy.
Also at the signing were Mr Amir Salem Al Aydaros Yemen minister of oil and minerals, Mr Awadh Al Suqatri minister of electricity and energy and Mr Abdul Kareem Al Arhabi minister of planning and international cooperation.
Mr Al Aydarus said that "The gas city concept has the potential to promote significant economic activity in Yemen and bring substantial foreign investments directly into our local markets. In turn, this will catalyse economic growth and encourage investment driven developments to grow job placements, all of which are particularly important in the current global economic climate. We look forward to working with Gascities Limited to progress this project in the most optimal manner."
Mr Badr Jafar chairman of Gascities Limited said that "Our proposed Yemen Gas City will help provide a focus for the Yemeni Government's plans to make optimal use of Yemen's increasing natural gas reserves by achieving maximum value generation through use in power generation and local industry, such as cement and steel industries as well as industrial clusters promoting agri businesses, food processing, construction materials and plastics processing."
Phase 1 would be a comprehensive analysis, where Gascities Limited will work with the Yemeni Government to establish a feedstock profile and finalize the optimal location for the new city.
He said that "At this point it is envisioned that Yemen Gas City will comprise a chemistry park containing methanol and fertilizer factories, a utilities hub that will make the project self sufficient for all utilities and will provide additional power that can be utilized by the Yemen National Electricity Grid, industrial clusters with supporting services and residential and municipal developments."
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Source:steelguru.com |
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