Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
Economy
 Print  Send This Page
Save Listen to this Article
Taqa, Gazprom to launch Dutch gas storage project   

Gulf Today - 06 December, 2008

Abu Dhabi National Energy Company said on Friday it had signed a memorandum of understanding with Gazprom to jointly develop the Bergermeer gas storage project in the Netherlands.

Abu Dhabi National Energy, also known as Taqa, said construction of the project is expected to start in the second quarter next year, with commercial operations scheduled to start in the second quarter of 2013.

Once operational, the majority of the facility's capacity will be made available for third party access.

"The new gas storage facility will enhance the security of energy supply to Dutch and European consumers and will contribute significantly to the liquidity of the North-West European gas markets," Taqa said in a statement.

Gazprom will assist in construction and design of the project and will also deliver cushion gas for injection in the summer months over the next four years. Cushion gas is necessary to ensure the reservoir has optimal pressure to start commercial storage activities.

Taqa and Gazprom aim to finalise technical and contractual talks in the next few months to reach a final investment decision on the project by the end of the first quarter in 2009.

Taqa, which is jointly developing the Bergermeer project with developers Dyas and Energie Beheer Nederland along with Petro-Canada, said last month it is seeing widespread interest in the 1 billion euro ($ 1.3 billion) project, but that Dutch government support is essential for its development.

Paul van Gelder, managing director for the company in Europe, told Reuters demand was coming from utilities all over Europe, particularly those with power generation stakes in the region, as well as gas shippers and trading firms which source gas in the North Sea and are looking for flexible storage sites.

Taqa and its partners aim to use a depleted gas reservoir north of Amsterdam for storage with a working volume of around 4 bcm and an extra 4.6 bcm of cushion gas to control the pressure.

The company said on Friday it is continuing talks with other potential partners and cushion gas suppliers for participation in the project.
 
Alwaleed Philanthropies grants 10,000 housing units, 10,000 cars to citizens
Source : Arab News  
Date : 2015-07-05
As an expression of his gratitude to the Saudi nation and its people, Prince Alwaleed bin Talal announced the resumption of the two Alwaleed Philanthropic projects that consist of providing...
DIFC launches Dh205 million project in iconic Gate district
Source : Khaleej Times  
Date : 2015-07-05
The Dubai International Financial Centre, or DIFC, has broken ground for the construction of its 11th office building in the iconic Gate District....
MSM ends in positive territory amid mixed trend in region
Source : Oman Daily Observer  
Date : 2015-07-05
Although most Gulf stocks witnessed a mixed trend, the Muscat Securities Market picked up positive activity towards the end of trading last week....
'Ramdanana Kida' continues to draw crowds
Source : Saudi Gazette  
Date : 2015-07-05
The ongoing Ramadan festival called "Ramdanana Kida"(Our Ramadan Was Like This) at the historic Balad district of Jeddah continues to attract visitors with its various activities and events....
New system brings down overstayer numbers
Source : Arab News  
Date : 2015-07-05
The Kingdom has seen a sharp rise in the number of Umrah pilgrims to around 6 million from 1.5 million in the last 16 years. Moreover, the number of pilgrims...
Land crunch: Saudi families learn to live in apartments
Source : Arab News  
Date : 2015-07-05
It seems that many Saudi families are gradually coming to terms with the new reality of living in apartments, as building villas is not possible due to shortage of appropriate...
Qatar Rail wins ISO certification for occupational health, safety
Source : The Peninsula  
Date : 2015-07-05
Qatar Railways Company (Qatar Rail) overseeing construction of the integrated railway network, was awarded ISO certification OHSAS 18001:2007 for occupational health and safety management systems....
Royal visit to spur development
Source : Arab News  
Date : 2015-07-05
Saudi Commission for Tourism and National Heritage (SCTNH) President Prince Sultan bin Salman described the first visit by Custodian of the Two Holy Mosques King Salman to Madinah as "historic."...
Iran's car production rises 16.2% in spring
Source : Tehran Times  
Date : 2015-07-05
Car manufacturing in Iran rose 16.2 percent in spring, which corresponds to the first quarter of Iranian calendar year , compared to the same period of time last year, according...
Al-Baha mountains 'blocking development'
Source : Arab News  
Date : 2015-07-05
Forty three percent of Al-Baha cannot be developed easily because of the region's mountainous terrain....
The new face of Madinah
Source : Arab News  
Date : 2015-07-05
Huge projects change the faces of cities and great ambitions help create such projects....
KSA explores atomic energy cooperation with Japan
Source : Arab News  
Date : 2015-07-05
The Japanese ambassador to the Kingdom, Noriheiro Okoda, has held a meeting with Hashem Abdullah Yamani, president of the King Abdullah City for Atomic and Renewable Energy (K.A.CARE), and discussed...
Abu Dhabi Chamber discusses co-operation with firms in Uruguay
Source : Gulf Today  
Date : 2015-07-05
Mohammed Hilal Al Muhairi, Director-General of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), and Dr Nelson Yemil Chaben, Ambassador of the Republic of Uruguay, have discussed ways to...
ME lenders feel heat of falling loan pricing
Source : Oman Tribune  
Date : 2015-07-05
The reluctance of local lenders to join the $3 billion loan for Abu Dhabi National Energy Company (Taqa), which is in general syndication, is highlighting how previously liquid local Middle...
Iran's crude oil exports to Turkey up 7.6% in Q1: Eurostat
Source : Tehran Times  
Date : 2015-07-05
The volume of Iran's crude oil exports to turkey rose 7.6 percent in the first quarter of 2015, compared to the same period of time in 2014, according to the...
GCC economic activity dips 30%
Source : Oman Tribune  
Date : 2015-07-05
The economic activity in the Gulf Cooperation Council (GCC) fell by just under 30 per cent during the first half of the year, according to three key metrics....
Fitch hails CBO move to set up wing for Islamic banking
Source : Oman Tribune  
Date : 2015-07-05
The Central Bank of Oman's opening of a special department to oversee Islamic banking activities has been hailed by Fitch Ratings. This initiative has been to build up resources and...
Qatar real GDP grows by 4.1pc in Q1
Source : The Peninsula  
Date : 2015-07-05
Qatar's real gross domestic product (GDP) growth in the first quarter of this year (Q1, 2015) accelerated by 4.1 percent compared to the estimate of Q1 of 2014. However, compared...
Economic outlook for UAE good despite low oil prices
Source : Khaleej Times  
Date : 2015-07-05
According to recent figures, over 65,000 companies operate in Sharjah's private sector, while exports from members of the Sharjah Chamber of Commerce and Industry exceeded Dh61.3 billion during 2014....
Investments in Madinah likely to reach SR500bn
Source : Arab News  
Date : 2015-07-05
Economists expected the volume of investments in Madinah's economies during the coming few years to reach SR500 billion....
Total 1353 Results in 68 Pages
1 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sun Jul 5, 2015| 18-رمضان-1436هـ
Daesh video shows mass execution in ruins of Syria's Palmyra
Despite progress in Iran nuclear talks, dispute over UN sanctions persists
GCC economic activity dips 30%
Investments in Madinah likely to reach SR500bn
Iran bomb probe may be finished in 2015: Amano
Kuwait may issue bonds to finance deficit: Minister
KSA seeks end to repression of Rohingyas
Economic outlook for UAE good despite low oil prices
Saudi-led air strike on Yemen rebel kills 23
Qatar real GDP grows by 4.1pc in Q1
Yemen's Houthis say Ramadan humanitarian pause under discussion
Fitch hails CBO move to set up wing for Islamic banking
Iraqi leaflets promise Mosul recapture
Syrian army and Hezbollah lay siege to rebel-held border city
ME lenders feel heat of falling loan pricing
  Op-Ed
Freedom Flotilla III could not make it
The endgame
Egypt is not Iraq
Islamic State settles in Ramadi
More>>  
    Reports
Regional Situation Report For Syria Crisis: UNFPA
GCC Earnings Review – 1Q15
GCC Markets Performance – May 2015
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
Oman-ASEAN Relations
UAE-ASEAN Relations
Kuwait-ASEAN Relations
    GRC Commentary
Reduce your Footprint in Ramadan
A Gulf Perspective on the 'Obama Doctrine'
Water Issues in the GCC: Cooperation is Key
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Demography, Migration, and the Labour Market in the UAE
GCC–Turkey Relations: Dawn of a New Era
Demography, Migration, and the Labour Market in Bahrain
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   14-- 14 Middle Page :0  --   | Right : 14 - 14--en--sess-enreq-en-coming