Yemen LNG (liquefied natural gas) brought the second of two LNG trains online as part of the country’s US$4.5 billion LNG plant that will process up to 6.7 million tons of LNG annually at the facility, which is located at the port of Balhaf.
The facility’s first train came online in the fall of 2009 (see Gas Processors Report 10/21/09) and will liquefy natural gas from the country’s Marib region. The gas is shipped to the plant via a 200-mile pipeline.
“The future of Yemen is promising in terms of gas,” Yemen’s Oil Minister, Amir al-Aydarus said on the country’s defense ministry Web site. Yemen LNG began shipping LNG on November 7, 2009, with 18 shipments made in 2010 so far to South Korea, the U.S., China, Spain and Mexico. Yemen LNG anticipates the shipments from the plant to be 85 in 2010 and about 100 to 105 in 2011, according to al-Aydarus. He anticipates the facility generating revenues of $30 to 40 billion over a 25-year period.
The company is owned by Total of France (39.62%), Yemen Gas Co. (16.73%), Hunt Oil Co. (17.22%), SK Energy of South Korea (9.55%), Korea Gas Corp. (6%), Hyundai Corp. (5.88%) and GASSP (5%). – Frank Nieto