Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
 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.
First 'Multi-Comfort House' in Masdar City
Source : Gulf Today  
Date : 2017-02-20
Saint Gobain, a world leader in the habitat and construction markets, will bring its innovative and sustainable solutions to the United Arab Emirates with the construction of an energy-efficient "Multi–Comfort...
Zain Group records $3.6bn revenue in 2016
Source : TradeArabia  
Date : 2017-02-20
Zain Group, a leading mobile telecom innovator in eight markets across the Middle East and Africa, has generated consolidated revenues of KD1.1 billion ($3.6 billion), down four per cent over...
Dubai unveils key objectives under 2017-2021 strategy
Source : TradeArabia  
Date : 2017-02-20
Dubai Chamber of Commerce and Industry has unveiled the key objectives and initiatives outlined under its 2017-2021 strategy that aims to boost competitiveness and growth within the private sector in...
MENA to spend $294bn on oil, gas projects despite weak prices
Source : Saudi Gazette  
Date : 2017-02-20
Oil producers across the Middle East and North Africa (MENA) region are continuing to spend heavily on oil, gas and petrochemicals production capacity despite the fall in oil prices since...
Petrochem industry vital to Kingdom's non-oil economy
Source : Saudi Gazette  
Date : 2017-02-20
The Saudi petrochemical industry is vital to the Kingdom's non-oil economy, Jadwa Investment said in its Petrochemicals and the Vision 2030 report....
ADNOC signs $1.77 billion deal with China's oil giant
Source : Arab News  
Date : 2017-02-20
The China National Petroleum Corporation (CNPC) on Sunday secured an 8 percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.77 billion, the Emirati company...
United Power awaits decision of regulatory authorities on future of the company
Source : Times of Oman  
Date : 2017-02-20
United Power, the first independent power company in Oman set up under the build, own, operate and transfer (BOOT) scheme, is awaiting the outcome of a study undertaken by the...
Innovation Zone planning underway in Sohar Freezone
Source : Gulf Times  
Date : 2017-02-20
Sohar Port and Freezone revealed updated performance figures during its annual Business Reception at The Chedi in Muscat last week....
Iraq oil reserves surge to 153b barrels
Source : Oman Tribune  
Date : 2017-02-20
Iraq's oil reserves have increased to 153 billion barrels, from a previous estimate of 143 billion barrels, Oil Minister Jabal Al Luaibi said on Sunday....
Qatargas' Laffan Refinery 2 inauguration today
Source : The Peninsula  
Date : 2017-02-20
Qatargas' Laffan Refinery 2, entailing investment of about $1.5bn, will be inaugurated today in a ceremony at the Qatar National Convention Centre. The inauguration marks a major milestone in...
Australia, UAE to explore deeper defence ties, sales
Source : Gulf Times  
Date : 2017-02-20
Australia and the United Arab Emirates (UAE) will explore closer defence ties after a meeting yesterday between a senior Australian government minister and Abu Dhabi Crown Prince Sheikh Mohamed bin...
VP, AD CP inaugurate IDEX 2017
Source : Gulf Today  
Date : 2017-02-20
Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown...
Janadriyah festival winds up with 6.8 million visitors
Source : Arab News  
Date : 2017-02-20
The Janadriyah 31 festival, which showcased Saudi life and culture, ended Saturday night, having drawn 6.8 million visitors over its 18-day run....
Irans oil output to reach 4m bpd by Mar. 21
Source : Tehran Times  
Date : 2017-02-20
Oil production in Iran will reach four million barrels per day (bpd) by the beginning of the next Iranian calendar year (March 21) National Iranian Oil Company Managing Director Ali...
Tehran, Belgrade stress energy, mining co-op
Source : Tehran Times  
Date : 2017-02-20
Iran's ambassador to Serbia Hossein Molla-Abdollahi and Serbian Minister of Energy and Mining Aleksandar Antic in a Friday meeting in Belgrade underscored both countries' interest in developing common mining and...
Iran sells crude oil at $51.44 per crude oil in a week
Source : Tehran Times  
Date : 2017-02-20
Iran sold its light crude oil at $51.44 per barrel in the week ended on February 10, with $1.57 decrease from its previous week, IRNA reported on Sunday....
First day of IDEX sees Dhs4.416b deals
Source : Gulf Today  
Date : 2017-02-20
Brigadier-General Rashid Mohammed Al Shamsi, Official Spokesperson for the 13th edition of the International Defence Exhibition and Conference (IDEX 2017), announced that 21 deals worth more than Dhs4.416 billion have...
Oman's sovereign rating outlook revised to stable
Source : Oman Tribune  
Date : 2017-02-20
International credit rating agency Capital Intelligence Ratings (CI) revised the outlook for the Sultanate's sovereign ratings to stable from negative....
Iran finds 2b barrels of shale oil reserves
Source : Oman Tribune  
Date : 2017-02-20
Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was...
QIC hikes capital base by 15% to QR2.77bn
Source : Gulf Times  
Date : 2017-02-20
Qatar Insurance Company (QIC), which is focusing this year on consolidation and to enhance operational efficiency, is hiking its capital base by 15% to QR2.77bn....
Total 706 Results in 36 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Mon Feb 20, 2017| 23-جماد أول-1438هـ
Syria expands anti-Daesh operations
Riyadh celebrates first Saudi Women's Day
UAE summons Iran's diplomat
Trump turns up the heat on Iran, but no clear game plan yet
Qatar tops world in BMI index for investment attractiveness
Qaeda kills Yemen police, targeted in US raid
Iran targets $8.6bn of refinery deals with Asia firms
UN chief: Syria dialogue must focus on transition for success
US President Trump strongly supports Iraq - envoy
DGCX traded 1.37m contracts valued at $33b in January
Iran rejects 'baseless' warning from US on missile test
GCC consumers spend $9.3 billion on beauty, personal care products
HM King hails parliament's role
Saudi sentenced 7 years in prison for entering Syria, joining Al-Nusra
AD CP, Emir of Qatar discuss ties
Trump versus Iran: Mixing up the issues
Is it possible to create safe zones in Syria?
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
The Benefits of NATO-GCC Strategic Ties
The GCC and the EU's New Global Strategy
    GRC Commentary
Climate COP 22 in Marrakech Important for the Region
Earth Day 2016: The Promised Day
An Evolving Saudi-US Relationship
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Sustainable Development Goals: Challenges and Opportunities for the GCC Countries
Salalah: The Economic Development and Spatial Fragmentation of a Globalized Port City in Southern Oman
Oil in the GCC Countries
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
GRC Publication
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   16-- 16 Middle Page :0  --   | Right : 16 - 16--en--sess-enreq-en-coming