economic growth for 2008 and 2009, said the International Monetary Fund (IMF). In its latest report, Regional Economic Outlook: Middle East and Central Asia, the IMF said: “The region has continued to experience strong growth in 2008, outpacing global growth for the ninth year in a row. Growth is underpinned by high commodity prices, strong...
Limited, or LNG Limited, to proceed more cautiously with its planned liquefied natural gas (LNG) project in Gladstone in Queensland state. The company said it needed help from potential customers or other partners in financing the A$500 million project. (US$1 = A$1.63) Against the backdrop of the global financial and credit crisis, debt-financing and...
plans to invest S$750 million to turn its three oil-based power plants to use natural gas. (US$1 = S$1.50). The upgrades will take place over a three-year period through 2011. Lion Power will procure the gas from the new LNG terminal which is currently being built on the country’s petrochemicals hub on Jurong Island. Longer-term,...
in Vietnam, said its majority owned subsidiary, Cavico Hydropower Construction, has achieved a breakthrough on the headrace tunnel at the Dasiat hydropower project in Vietnam. The breakthrough was achieved October 18 after 27 months of work. The headrace tunnel is 1.44 miles long and 91 inches in diameter. Cavico Hydropower provided construction services and supplied...
Österreichische Industrieholding AG said it has raised its shareholding in Austria’s oil and gas firm OMV Aktiengesellschaft to 50.7% effective October 15. IPIC owns 57,485,686 shares, raising its stake from 17.6% to 19.2% of the registered capital. The consortium now hold 151,985,676 shares of OMV’s registered capital of 300,000,000 OMV shares. With group sales of...
gas supply contracts with some of the largest solar cell manufacturers in the world, “confirming its position as the number one gas supplier to this fast-growing industry.” To fulfill these new long-term contracts, Air Liquide said it will invest over 20 million euro to supply nitrogen and hydrogen from on-site generators as well as bulk...
vertically integrated photovoltaic (PV) product manufacturer, said it will assist its customers with access to project finance advisory services and potential funding solutions through cooperation with Deutsche Bank. Through this proposed cooperation, the two companies expect to provide a convenient “one-stop shop” solar project solution, offering high quality PV products and solar project financing advisory...
agreement with Prayag Green Solar Power Private Limited to develop and construct a two-megawatt solar power project in Chitrakoot in India’s Uttar Pradesh state. Clear Skies Solar said the deal has opened the way for it to execute other contracts in the region including a previously announced $20 million project to design and construct a...
to Singapore and Indonesia’s Batam Island said it has signed a new agreement to transport gas to Singapore to be followed by new deals to supply to Batam. The consortium, led by UK’s Premier Oil, is supplying the gas from the West Natuna Sea Block A production sharing contract (PSC) area. Premier Oil, the operator,...
and damage to the UK economy, said a UK industry task force comprising representatives from eight private companies. The “Oil Crunch: Securing the UK’s Energy Future” is the first multi-company study to sound the warning on peak oil and its implications for the UK. Its members include Arup, FirstGroup, Foster and Partners, Scottish and Southern...