Dolphin Energy, the strategic natural gas joint venture, is expanding its facilities to boost gas exports from Qatar to the UAE.
Faced with a gas crunch in the UAE, Mubadala Petroleum and joint venture partners Total and Occidental are keen to increase the supplies that come to Abu Dhabi and are distributed to Dubai and Oman by 1 billion cubic feet. The Dolphin pipeline, which runs under the sea from Qatar to Abu Dhabi, can accommodate 3.2 billion cubic feet today, but compression facilities in Qatar and existing long-term sales contracts allow for only 2.2 billion to actually pass through it. The gas comes at a substantial discount to international liquefied natural gas (LNG) prices.
"We're working hard in cooperation with Qatar to increase the capacity of the pipeline, and hopefully bring even more natural gas to Abu Dhabi," said Maurizio La Noce, Mubadala Petroleum's chief executive.
The extra gas could come from LNG trains undergoing maintenance, said Arnaud Breuillac, Total's president of Middle East exploration and production.
Although the pipeline would not transport 3 billion cu/ft every day of the year, there should be enough gas to make expanding the compression units economic, he said. The pipeline has transported gas above its contracted capacity for short periods in the past. The compression facilities expansion is scheduled for completion in 2015.
"We are thinking maybe by then a new contract will be signed for the supply of more gas," said Mr Breuillac. The main stumbling block to further imports is gas pricing. Dolphin reportedly pays only US$1.30 (per million British thermal units for its gas, far below the price fetched for Qatari gas in the international markets - as high as $17/mmbtu in Japan. A new deal is unlikely without a considerable mark-up on the current price.
Dolphin is also building more pipelines to bring additional gas to the Northern Emirates.
"We are continuing to develop the transportation network in the UAE by adding new pipelines, in particular to feed the northern emirates," said Mr Breuillac. "This is really important to address the gas balance and the energy balance of the UAE."
Dolphin is not the only gas import project involving Mubadala Petroleum, and the company has teamed up with the International Petroleum Investment Company (Ipic), another Abu Dhabi investor, for an import terminal in Fujairah. The floating terminal will be able to receive 9 million tonnes of LNG by 2016.
The project will further help to diminish the gap between supply and demand that is widening in the UAE, a consequence of economic development and population growth, coupled with wasteful consumption of electricity.
Mubadala Petroleum, the oil and gas subsidiary of its parent company, also aims to broaden its upstream portfolio in the Arabian Gulf and in South-East Asia, where it was awarded a gas block in Indonesia last month.
Recent oil and gas finds in Africa have caught the company's attention. Tanzania and Mozambique are on the brink of a gas boom, while significant oil reserves have been discovered in Kenya.
"We are investing heavily in exploration," said Mr La Noce. "We have identified East and West Africa as an area for growth."
The chief executive also believes that risk premium in the aftermath of the Arab Spring has made upstream assets in North Africa more lucrative.
"We see many [opportunities], in particular in North Africa, in parts of the Gulf, and in many other areas that have suffered from a fall in investments," said Mr La Noce.
fneuhof@thenational.ae
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
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SPECS
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The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Your Guide to the Home
- Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
- Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
- Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The specs
Engine: 3.8-litre V6
Power: 295hp at 6,000rpm
Torque: 355Nm at 5,200rpm
Transmission: 8-speed auto
Fuel consumption: 10.7L/100km
Price: Dh179,999-plus
On sale: now
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
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