New base special 05 june 2014

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NewBase 05 June 2014 Khaled Al Awadi

NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Nuclear power is our future energy in the GCC Commentary / NewBase

With the intention of securing power for all people to keep cool during high summer temperatures in the UAE & the GCC in general , the UAE government ( the only one in the GCC ) has taken a brave choice to seek nuclear power and other has followed in the track . Other such as KSA , Jordan and later Qatar & Kuwait will follow for sure in the near future .

Nuclear power is a clean energy source that produces electricity without emitting any of the pollutants associated with fossil fuels, including greenhouse gases like carbon dioxide and methane, deadly particulates, nitrogen oxide, and sulfur dioxide. Reductions in these pollutants would alleviate global warming, mitigate environmental hazards like acid rain, and tackle the thousands of deaths a year caused by the combustion of fossil fuels.

Nuclear power is essentially renewable, since the uranium-based fuel used is virtually inexhaustible. Furthermore, although nuclear plants consume more water than fossil fuel plants, they require far less than other renewable options like hydropower, geothermal, and solar.

Moreover, nuclear power hazardous waste re minimal when compared to current fossil fuel power generated, and new designs for nuclear plants could eliminate the issue entirely. When inadequate safety precautions combine with a severe natural disaster, like they did in the 2011 Fukushima disaster, the risks of nuclear power become evident.

Thanks to the insightful vision of its wise leadership, the United Arab Emirates plays a

leading role in using Nuclear power




Although the radiation exposure from nuclear plants can be dangerous, these risks must be placed in context. NASA concluded that nuclear power avoided an average of 76,000 deaths and 64 gigatonnes of carbon dioxide every year between 2000 and 2009 by reducing fossil fuel consumption. According to the National Academy of Sciences, the burning of fossil fuels leads to $120 billion in health costs and 20,000 premature deaths caused by air pollution each year.

In spite of all this evidence, Energy consultants hopes to build more nuclear power plants in oil producing countries before oil is hard to produce , let say in let’s say by 2040 . So it is advisable to all federal governments (as the sole authority to regulate the safety of nuclear power plants and permits the constructions) to include such projects construction of new reactors to meet high future power demand and keep more oil available for export to meet the growing world oil demand .

Pessimistic “ energy consultant “ misguided attempt to cease the GCC countries of what they inaccurately views as a dangerous source of power will have future, perilous consequences. Blackouts will put the health and safety of millions of GCC nation at risk, but the costs don't end there. A nuclear shy a way ( avoidance ) will increase our reliance on fossil fuels and drastically reduce our air quality , this decrease in air quality will cause hundreds — perhaps thousands — of additional air-quality-related deaths.

In addition, research and development within the nuclear industry has produced results that, if implemented, could make nuclear an even safer, greener source of power, with less hazardous waste. If the GCC governments make it impossible for nuclear plants to speared , however, investment will sputter.

All GCC countries should encouraging even the private Industries to explore these new technologies and retrofit curent power plants outdated equipment — perhaps using the subsidy budget currently being doled out to less realistic enterprises like fuel cells and water-intensive, high cost solar energy .

Many energy publication and editorial news recently endorsed the benefits of nuclear power over renewables in a world where the latter are still a pipe dream. It's time for all GCC countries to take facts seriously and work to help nuclear power improve our environment and our health — rather than advocating for impractical renewables while fossil fuels destroy them both.




UAE ranks third in the world for total solar power

capacity and investment, says report . The National staff

Masdar City’s Shams1 has helped to lift the UAE to third among the world’s nations in Concentrated Solar Power investment and capacity, a report says.

The UAE now ranks behind only Spain and the US in CSP generation.The rankings were recently unveiled in a report by Ren21, a policy network that promotes rapid global transition to renewable energy.

“We’re pleased to see how high the UAE ranks worldwide in renewable energy generation, given the country’s commitment to sourcing more sources of secure and safe energy,” Yousif Al Ali, general manager of Shams 1 Power, told the state news agency Wam.

“Since its launch, Shams 1 has been generating enough power to electrify 20,000 homes in the UAE and displaces 175,000 tonnes of carbon annually.” The Ren21 report shows how the UAE’s investment in CSP technology has strengthening its position as a responsible global energy leader.

It said the 100-megawatt Shams 1 plant in the Western Region is a reason growth of CPS in emerging markets almost tripled last year. Although Spain and the US are still by far the market leaders in CSP, investment in the technology is growing most rapidly in regions that receive high amounts of daily sunshine.

Global CSP capacity has increased tenfold since 2004, and last year surged 36 per cent to a total of 3.4 gigawatts generated. The US$600 million (Dh2.2 billion) Shams 1 plant, the Middle East’s largest renewable energy project, opened in March last year as a partnership between Masdar, Total and Abengoa.




Oil, gas and petrochemicals: Middle East Source : EnergyGlobal

Qatar

Business Monitor International (BMI) has reported that the Qatari petrochemicals industry has so

far focused on high volume production of basic chemicals. However, recent developments have

shown that the country is seeking to add value to output with greater diversification in the

downstream segment. BMI believes that the move towards a well integrated downstream value

chain will increase the proportion of domestic use and consumption of locally produced

petrochemicals. This, BMI expects, will provide some cushion to the impact of increasing

competition from US and Asian producers who are increasing petrochemical production capacity.

By 2018, BMI forecasts that Qatari ethylene production will reach 7.4 million tpy, which is treble

2013 levels. This is expected to be accompanied by polyethylene capacity hitting 4.49 million tpy,

and polypropylene reaching 540 000 tpy. It has also been said that over the next 10 years, Qatar

is looking to spend US$ 25 billion on expanding the domestic petrochemical industry and double

the annual capacity to 23 million tpy by 2020.

Saudi Arabia

BMI has reported that the Saudi petrochemicals industry is diversifying its feedstock mix and

expanding its product slates to include more high value intermediates. BMI has said that this is




essential as Saudi Arabia bans imports of natural gas and its pricing structure for domestic

supplies has reduced the financial incentive to explore for it.

Foreign companies have formed joint ventures with state oil firm Saudi Aramco to seek out gas

deposits, but over the past 10 years they have largely failed to find commercially viable deposits.

Authorities in Saudi Arabia now reportedly want to focus on the search for unconventional

deposits that would require more complex and expensive technologies. However, this rise in gas

extraction costs, is expected by BMI, to increase the cost of production and undermine the

industry’s competitiveness against the new threat of shale based US production.

BMI do believe that Saudi Arabia will remain a robust market for petrochemicals goods, providing

the basis for growth in downstream conversion sectors. In terms of the domestic market, the

country is likely to remain relatively large and dynamic by Arabian Gulf standards.

United Arab Emirates

When it comes to petrochemicals in the UAE, BMI has said that the availability of naphtha will be

boosted by refinery expansion at Ruwais, helping the Emirati industry’s competitive edge and

enable it to

produce a wider

range of

products. Also,

BMI has said

that the global

packaging

market, which is

a major polymer

consumer, will

play an

important role in

the industry’s

growth outlook. The effects of China’s economic stimulus, BMI says, is yet to be felt by UEA, and




the cooling credit growth is likely to reveal hangover effects in the coming quarters. By 2016, BMI

expects ethylene capacity of 5 million tpy in the UAE, an increase of 2 million tpy from 2013 levels.

Pakistan

BMI has said that gas shortages continue to loom in Pakistan as the country waits on the

development of required import infrastructure. BMI has also said that with struggling production, a

limited potential for significant increases in gas production and a lack of import infrastructure,

Pakistan will most likely continue to experience severe gas shortages over the near to mid term. It

is possible that LNG could become part of the country’s energy mix as there are two fast tracked

planned regasification projects in the pipeline. If constructed, Pakistan could see first LNG imports

in 2015. BMI believe that this could help ease the risk of prolonged energy supply constraints

when looking at the long term.

When it comes to shale in the

country, BMI do not believe it

will render the country as gas

self sufficient over the next 10

years, however, the recent

start up of shale gas

exploration does create a

large upside risk in future

forecasts.

When it comes to oil demand

in the country, BMI see oil

demand increasing from

approximately 480 800 bpd this year to 640 200 bpd in 2023. Also while BMI expect production to

continue to increase throughout the next decade, this will leave the country with a growing import

requirement.

Kuwait

The petrochemicals industry urged to diversify amid more competition. While Kuwait's

Petrochemical Industries Company (PIC) plans to increase its petrochemical income to make up

more than 50 percent of the country's non-oil income, further value added to petrochemicals is

essential to developing the production chain and ensuring that the industry is buffered from the

effects of increased competition in external markets, BMI's latest Kuwait Petrochemicals Report

noted.

Kuwait has formidable reserves and growing upstream production, which should sustain petrochemicals output. A diverse feedstock also enables a more diverse range of downstream products, putting Kuwait at a competitive advantage against ethane-dependent producers in Qatar and Saudi Arabia. On the downside, the government's domination of upstream and downstream sectors stifles the investment climate within the country and ultimately diminishes the country's export potential as large investment is kept at bay and never fully realized.




Facilities belonging to Equate, which represents 60 percent of Kuwait's non-oil exports, are producing at above nameplate capacity, which indicates that the company is enjoying considerable commercial success on global markets. The situation has prompted Equate to invest in debottlenecking its 825,000 tons per annum (tpa) high-density polyethylene/linear low-density polyethylene swing plant and a 550,000tpa MEG unit as well as ethylene production with completion set for 2015. The additional capacity it will provide is unclear.

Karo is looking to develop its production facilities and improve the performance and flexibility of its aromatics complex and PIC is examining the viability of more aromatics plants, although further development is unlikely before 2018.

Although investment is ongoing, the timescale for Kuwait Petroleum Corporation's Olefins III project is set to slip to 2017, which could add $4 billion to the total cost and potentially lead to scaling back of planned capacities. The complex is to be based on a mixed-feed cracker with capacities of 1.4mntpa ethylene and around 600,000tpa propylene, using gas and liquid feedstocks. Downstream facilities will produce up to 800,000tpa polyethylene (PE) and up to 600,000tpa ethylene glycol. Olefins III will boost Kuwait's ethylene capacity to 3.1mntpa, while PE will nearly double to 1.6mntpa. Any further delay would adversely affect the project as it would further diminish revenues that could have been generated had it become functional at an earlier date. Kuwait's petrochemicals rating is 60.8 points this quarter, unchanged since the previous quarter due to a modest rise in its country risk score. However, it has risen from fourth to third place with Qatar in our regional Risk/Reward Ratings ranking for the Middle East and North Africa as a result of a 0.5 points decline in Qatar's score. It now lies 1.8 points ahead of Iran and 5.9 points behind the UAE




Materia and QAPCO sign MoU to study the development of the next generation of materials by focusing on R&D . Press Release QAPCO

PASADENA, California and DOHA, Qatar - As Qatar continues to grow its energy and industrial sectors, and attempts to further optimize its hydrocarbon resources utilization, research and innovation are set to propel the future success of these sectors. Research might allow the development of new products using Qatar’s existing feedstock and natural resources and opens the door to new uses for energy products and derivatives such as petrochemicals.

To further this goal, Materia, Inc. (Materia) and Qatar Petrochemical Company (QAPCO) have forged a partnership, through a Memorandum of Understanding (MoU), to further reinforce their collaborative R&D efforts, and to study the development of the next generation of materials produced from Qatar’s existing feedstocks. Materia’s expertise and breakthrough catalyst technology combined with QAPCO resources could potentially lead to the development of new products. Indeed, Materia specializes in efficient feedstock utilization and the extraction of specific petrochemical and chemical compounds thanks to its unique and innovative technology. Together, they will explore the possibilities to further optimize the use of Qatar’s natural resources, by studying how to extract new products from QAPCO’s current feedstock, with the aim to maximize the value related to QAPCO’s existing processes.

Sustainability oriented research is part of QAPCO’s commitment to improve both the impact of its processes, by focusing on the optimum use of feedstock, and of its products, by generating new applications. Through collaboration with local and international partnerships, QAPCO’s R&D team is digging deep into the potential applications for its petrochemical products now and into the future.




Dr. Mohammed Yousef Al Mulla, Vice Chairman and CEO of QAPCO stated: “Joint industry-academia R&D, such as our collaboration with Materia and Texas A&M at Qatar, is very promising and paves the way to infinite possibilities while supporting the growth of Qatar’s knowledge-based economy. Collaborating with some of the world’s leading experts on research projects focusing on olefins, polymers and petrochemicals has the potential to add further value to our feedstock, which could be strongly beneficial for QAPCO and ultimately for the hydrocarbon resources of the State.”

Dr. Michael A. Giardello, Materia’s President, CEO & CTO stated: “This envisioned collaboration should enable QAPCO to extract greater value from some of its by-product streams, therefore unlocking greater value from Qatar’s natural resources thanks to Materia’s unique and advanced technologies.”

QAPCO uses focused partnerships with Qatar’s most prominent universities such as Texas A&M University at Qatar, as the launching point for its research activities. Most recently, QAPCO supported the establishment of an endowed chair position at Texas A&M at Qatar for Polymer Science and Polymer Engineering. Nobel Prize winning chemist Professor Robert H. Grubbs, Victor and Elizabeth Atkins Professor of Chemistry at the California Institute of Technology, helped found Materia in 1998. “It is exciting to be part of a collaboration involving Materia, QAPCO, and Texas A&M at Qatar to develop the next generation of materials and products from Qatar-based feedstocks. This program will allow fundamental discoveries to be rapidly converted into new commercial products,” stated Professor Grubbs.




About Materia

Materia was founded in 1998 to commercialize the Grubbs Catalyst™ technology, which enables chemical compounds to be synthesized with greater efficiency, under less stringent reaction conditions, and with reduced by-products and hazardous waste. Metathesis has been accepted as an emerging chemical technology platform and has been broadly adopted by the pharmaceutical, chemical, and polymer industries. As stated by the Royal Swedish Academy of Sciences when awarding the 2005 Nobel Prize, “metathesis is an example of how important basic science has been applied for the benefit of man, society, and the environment.” For more information, visit:

www.materia-inc.com.

About QAPCO

QAPCO was established in 1974 and is a joint venture between Industries Qatar (80%) and Total Petrochemicals (20%). QAPCO is one of the largest producers of low density polyethylene (LDPE) in the region. LDPE is considered as the most widely used form of plastic, providing innovative and practical applications such as food packaging, cables, agricultural films or toys and playing a key role in the development of green building solutions. LDPE enriches the daily lives of million of people around the planet. QAPCO is involved in a number of joint ventures that include QATOFIN, QVC, and QPPC, thereby producing various petrochemical products, making QAPCO a regional

petrochemical powerhouse. For more information, visit: http://www.qapco.com.qa

About Texas A&M University at Qatar

Texas A&M University, recognized as having one of the premier engineering programs in the world, has offered undergraduate degrees in chemical engineering, electrical and computer

engineering, mechanical engineering and petroleum engineering at Qatar Foundation’s Education City campus since 2003, and graduate courses in chemical engineering since fall 2011. More than 500 engineers have graduated from Texas A&M at Qatar since 2007. In addition to engineering courses, Texas A&M at Qatar provides classes in science, mathematics, liberal arts and the humanities. All four of the engineering programs offered at Texas A&M at Qatar are accredited by ABET. The curricula offered at Texas A&M at Qatar are materially identical to those offered at the main campus in College Station, Texas, and courses are taught in English in a co-

educational setting. The reputation for excellence is the same, as is the commitment to equip engineers to lead the next generation of engineering advancement. Faculty from around the world are attracted to Texas A&M at Qatar to provide this educational experience and to participate in research activities now valued at more than $159 million, and that address issues important to the

State of Qatar. Visit www.qatar.tamu.edu.




Saudi Aramco pre-qualify bidders for offshore Maintain Potential Program

The national oil company (NOC) Saudi Aramco will select two engineering companies to provide its offshore Maintain Potential Program (MPP) with project management consultancy (PMC) services for the next period starting on 2015.

Saudi Aramco Maintain Potential Program is running for years with the mission to manage all the maintenance, revamping or expansion operations of the State-owned company on its offshore facilities.

For the last eleven years, this MPP contract has been handled by WorleyParsons, employing more than 350 people in Saudi Arabia in that purpose.

During that period, WorleyParsons acted as PMC for the installation of more than 300 wells, 180 kilometers of subsea cables and flowlines, 45 new platforms and the revamping of more than 100 existing platforms.

On May 2013, Saudi Aramco renewed WorleyParsons MPP contract for the fourth times but for a period of two years in order to fall in second quarter 2015 in synchronization with the parallel long term engineering, procurement and construction (EPC) agreement ending up on the same period.

So far the maintenance operations on Saudi Aramco offshore installations were rather conventional as most of them were located in shallow water of the Persian Gulf and running classical oil and gas production processes.




Aramco to extend MPP to future Red Sea operations For a couple of years Saudi Aramco is exploring intensively the Red Sea deep water on the west coast of Saudi Arabia in expecting to find natural gas fields that could help to compensate the actual gas resources running too short to continue to support Kingdom industrial and economical development.

In addition the existing offshore installations in the Persian Gulf will require the integration of enhanced oil recovery (EOR) technologies in order to maintain the plateau production.

Because of the planned deep offshore activities and the adoption of new technologies on existing facilities, Saudi Aramco has significantly the scope of work and competences that the future MPP

consultancy contract should cover.

Saudi Aramco conducted the new pre-qualification process of the future bidders in this new context of requirements in assessing their respective facilities all over the globe.

In respect with the largest scope of work to be awarded, Saudi Aramco pre-qualified seven engineering companies

These engineering companies are, for five of them, already pre-qualified under their General Engineering Services Plus (GES+ or GES-plus) qualification with Saudi Aramco, plus two more companies:

- Amec

- Fluor qualified GES+

- Foster Wheeler

- KBR qualified GES+

- Mustang Engineering qualified GES+

- SNC Lavalin qualified GES+

- WorleyParsons qualified GES+

With the commercial offers expected on the third quarter 2014, Saudi Aramco is planning to make the final decision in 2015 to pick up two engineering companies out of the seven to provide the offshore Maintain Potential Program with project management consultancy services for the next five years.




Tanzania: Ophir confirms Taachui gas discovery in BG-operated Block 1 offshore Tanzania. source: Ophir Energy

Ophir Energy has announced the successful results of the Taachui-1 and subsequent Taachui-1 ST1 well in Block 1, Tanzania which has resulted in a new gas discovery. Ophir holds 20% of Blocks 1, 3 and 4. BG

Group operates with 60%.

The Taachui-1 well was drilled by the Deepsea Metro I drillship close to the western boundary of Block 1. The well was sidetracked for operational reasons to complete as the Taachui-1 ST1 well and was drilled to a Total Depth of 4215mMD. The well encountered gas in a single gross column of 289m within the targeted Cretaceous reservoir interval. Net pay totalled 155m. Observed reservoir properties are in-line with those encountered at Mzia, the other Cretaceous-aged discovery on Block 1. Estimates for the mean recoverable resource from the discovery are c.1.0 TCF. The size of the gas column is such that the discovery could extend into a second compartment to the west which has the potential to be of a similar size. An appraisal well will be required to confirm this upside and is under consideration by the JV partners.

A Drill Stem Test will now be performed on the Taachui discovery with results expected before the end of June.

Nick Cooper, CEO, commented:

'The Taachui-1 discovery continues the 100% drilling success rate on Blocks 1, 3 and 4 and adds further resource to support the LNG development in Tanzania. The result is important to Ophir for two reasons: firstly it extends the proven hydrocarbon system to the eastern limit of, and partly de-risks, Ophir’s East Pande permit on which the Tende-1 well will be drilled later in 2014; secondly the aggregate recoverable volumes of c.16.7 TCF are now approaching the threshold needed to underpin a potential third LNG Train from Blocks 1, 3 and 4.'




Namibia: Repsol recommences drilling of the Welwitschia-1A well offshore . Source: Tower Resources

Tower Resources, the AIM-listed Africa-focussed oil and gas exploration company, through its wholly-owned subsidiary, Neptune Petroleum (Namibia), has announced that it has received notification from Repsol Exploration (Namibia), the Operator of Namibia PEL0010 (Neptune 30% working interest), that the drilling of Welwitschia-1A re-commenced on the morning of 4 June 2014.




Eni signs strategic agreements for Perla super-giant field in Venezuela

Source: Eni

The Minister of Petroleum and Mines of Venezuela and President of PDVSA, Rafael Ramírez, Eni's CEO, Claudio Descalzi, and Repsol's President, Antonio Brufau, signed strategic agreements concerning the exploitation of the Perla field, one of the largest worldwide discoveries of the last decade.

The first agreement is a Memorandum of Understanding for the creation of a new company (mixed enterprise) which will develop and produce Perla’s condensate reserves. The new company will be jointly

run by CVP (PDVSA’s affiliate)

with a 60% participation, Eni with 20% and Repsol with 20%. Currently the condensate reserves are property of the Republic of Venezuela. The second agreement is a Term Sheet which establishes the key elements for up to $1 billion investment structure to finance PDVSA’s (CVP) share in the Perla development. Eni and Repsol will contribute with up to $500 million each. Both agreements are subject to final contracts to be signed and to the approval of local authorities.

The Perla field, located in the Cardón IV block in the Gulf of Venezuela, 50 kms from the shore in a water depth of 60 meters, was discovered in 2009. The current estimate of gas in place is approx. 17 Trillion cubic feet (Tcf), or 3.1 billion barrels of oil equivalent. The Cardón IV block is licensed and operated by the Joint Operating Company

'Cardón IV S.A.', owned by Eni (50%) and Repsol (50%). PDVSA exercised its 35% back-in right and, after the imminent signature of a Sale and Purchase Agreement, it will get its ownership stake in the Company, which will be jointly operated. Eni and Repsol will each keep a 32.5% interest.

Perla production start up is expected by the end of 2014; production will reach the following peaks: Phase I at 300 million standard cubic feet per day, Phase II at 800 million scfd and Phase III at 1,200 million scfd.

Eni is also present in Venezuela with a participation in the Junín-5 heavy oil block (PDVSA 60%, Eni 40%) located in the Faja of Orinoco, which holds 35 billion boe of certified oil in place. Junin-5 production started in March 2013. Eni also holds a participation in PetroSucre, the Operating Company which runs the offshore Corocoro field (PDVSA 74%, Eni 26%). Currently Eni’s net production in the country is approx. 10,500 barrels of oil per day.




New loading buoys will see Gullfaks run until 2040 Press Release, June 04, 2014

Installing new loading buoys is one of several projects intended to extend Gullfaks’ life

towards 2040. 2.55 billion barrels of oil from the Gullfaks field have passed through the

existing loading buoys since first oil.

Due to come on line in June the towing of the first loading buoy has started. The second old loading buoy will be removed in August, and the new buoy is scheduled to come on line in mid-September.

The two existing loading buoys have been loading oil from Gullfaks, located in the Norwegian sector of the North Sea, since 1986.

“This is an important value enhancement project for the Gullfaks field. Gullfaks needs to have reliable loading systems for crude oil export in the future. The two existing loading systems and loading buoys installed in 1986 and 1987 are approaching the expected design life of 30 years,” says Øystein Arvid Håland, asset manager, Development and Production Norway.

The project is an important building block in the efforts to secure the oil export of Gullfaks and the tied-in fields for the next 30 years.

New loading buoys will reduce the need for logistics and helicopter transportation in connection with maintenance. Coordination and synergies with the Statfjord field related to operations, maintenance and spares will be facilitated.

Standard buoy

The loading system is of the same type as that installed at Statfjord and is a simpler system than the existing Gullfaks system.




The new loading systems will have the same oil loading capacity as the existing systems.

The existing 6,000-tonne loading buoys will be towed to Stord for demolition at Scanmet AS. The aim here is a 98% level of material reuse.

Located in 136 metres of water the loading buoys are situated some 2.4 kilometres north-west and 2.4 kilometres south-east of Gullfaks A.

They are owned by the Gullfaks licensees. Statoil is the operator with a 51% interest, whereas Petoro and OMV have the remaining interests of 30% and 19%, respectively.

Major contracts:

• Technip Norge AS has been responsible for engineering work, preparations, the removal of the existing loading buoys, towing and hand-over to the disassembly and demolition supplier – in addition to installing the new loading systems.

• The contract for disposal of the two loading buoys from Gullfaks is awarded to Scanmet AS.

• The new loading systems are delivered by National Oilwell Varco in Arendal.




Queen’s Speech: Oil industry to pay for new regulator? (UK) Offshore Energy Today Staff, June 04, 2014

The UK government’s legislative programme outlined in today’s Queen’s Speech included a

section on the Wood Report, which says that the new Regulator to oversee the UK’s offshore

operations should be fully funded by the industry.

The government said it would introduce a levy, making power so that the costs of funding a larger, better resourced regulator can be paid for by industry rather than by the taxpayer as is currently the case.

“Clauses will be introduced later in the session to set up a new super agency for the North Sea, with a duty

to support the government and industry in maximising economic recovery from this important resource,”

the programme reads.

Oil&Gas UK disagrees

Oil & Gas UK, a body representing UK offshore oil & gas companies, in response said that while it strongly supported the Wood Report guidelines as a correct prescription to help maximise economic recovery from the UK Continental Shelf, it did not agree that the whole cost of the new Regulator should be borne by industry.

Commenting on this, Oil & Gas UK CEO Malcolm Webb said: “We must disagree with the

government seeking to absolve itself from all financial involvement or responsibility for the

new Regulator.”

“This is not a question of the size of the bill. Production taxes paid by this industry each year run into many

billions of pounds and the total cost of the new Regulator will be a very tiny fraction of that. It is rather a

question of good governance, transparency and fairness that at least a part of the cost of the Regulator

should continue to be borne by the Department of Energy.”

“We look forward to hearing further progress soon on the formation of the Regulator.”




Germany To Set New Rules For Fracking by Reuters

Germany plans to draw up new rules in the coming weeks for the controversial method of fracking for gas, which will impose tight restrictions on the technique that has led to a shale gas boom in the United States.

The guidelines will include environmental audits and a ban on drilling in areas where water is protected. Germany's ruling parties had promised in their coalition agreement last year to set a legal framework for fracking.

Hydraulic fracking involves pumping water and chemicals at high pressure through drill holes to prop open rocks. Many Germans oppose it due to

environmental worries, especially

fears about possible contamination of drinking water.

The technology was used in Germany for decades for deep-lying, or "tight" gas, but there has been an effective moratorium on the granting of new permits for the past two years, pending the new rules.

Economy and Energy Minister Sigmar Gabriel outlined his plans to draft the guidelines in a letter dated May 23 to the head of the parliamentary budget committee.

"The goal is to finalise these drafts in the coming weeks," the letter said, adding that the aim was to get a version ready for the cabinet to approve before the summer recess.

Fracking has been embraced in the United States to obtain shale gas cheaply. But in the coalition deal agreed between Chancellor Angela Merkel's conservatives and Gabriel's Social Democrats (SPD), the section on fracking mentions a "significant potential for risk" and rejects the use of chemicals.

Last month the state of Lower Saxony, which holds 95 percent of Germany's gas reserves, tried to speed up an end to the ban on fracking for tight gas by saying it would take a draft law to the Bundesrat upper house.




Elengy at Coming European LNG Briefing of Terrapinn Press Release, June 4, 2014

An Elengy commercial expert will speak at the European LNG Briefing from Terrapinn on the 19th

of June in London.

Topics discussed are following:

Sustainability of the reloading market and developments in transshipment techniques:

• Elengy LNG Hub: from indirect to direct transshipments;

• Questioning the long term sustainability of reloading and STS transfer as flexibility tools; and

• What are the commercial drivers to locate LNG hubs in the Atlantic and Mediterranean coastlines

of Europe?




NewBase For discussion or further details on the news below you may contact us on +971504822502 , Dubai , UAE

Your partner in Energy Services

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the GCC area via Hawk Energy Service as a UAE operations base , Most the GCC area via Hawk Energy Service as a UAE operations base , Most the GCC area via Hawk Energy Service as a UAE operations base , Most the GCC area via Hawk Energy Service as a UAE operations base , Most of the experience were spent as the Gas Operations of the experience were spent as the Gas Operations of the experience were spent as the Gas Operations of the experience were spent as the Gas Operations

Manager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , heManager in Emarat , responsible for Emarat Gas Pipeline Network Facility & gas compressor stations . Through the years , he has developed has developed has developed has developed

great experiences in the designing & constructinggreat experiences in the designing & constructinggreat experiences in the designing & constructinggreat experiences in the designing & constructing of gas pipelof gas pipelof gas pipelof gas pipelines, gas metering & regulating stations and in the engineering of supply ines, gas metering & regulating stations and in the engineering of supply ines, gas metering & regulating stations and in the engineering of supply ines, gas metering & regulating stations and in the engineering of supply

routes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many Mroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many Mroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many Mroutes. Many years were spent drafting, & compiling gas transportation , operation & maintenance agreements along with many MOUs for OUs for OUs for OUs for

the local authorities. He has become a referencethe local authorities. He has become a referencethe local authorities. He has become a referencethe local authorities. He has become a reference for many of the Oil & Gas Conferences held in the UAE andfor many of the Oil & Gas Conferences held in the UAE andfor many of the Oil & Gas Conferences held in the UAE andfor many of the Oil & Gas Conferences held in the UAE and Energy program broadcasted Energy program broadcasted Energy program broadcasted Energy program broadcasted

internationally , via GCC leading satelliteinternationally , via GCC leading satelliteinternationally , via GCC leading satelliteinternationally , via GCC leading satellite ChannelsChannelsChannelsChannels . . . .

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NewBase 05 June 2014 K. Al Awadi

New base special 05 june 2014

Economy & Finance

Transcript of New base special 05 june 2014