Company denies it signed contract with Israeli company
The Source: www.sabanews.net - 26/2/2009
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The Yemen Liquefied Natural Gas Company (YLNG) has denied reports that
it had signed a contract with an Israeli company to implement part of
the Liquefied Natural Gas Project.
An information official at
the company said the company is not authorized to sign contracts with
Israeli companies and that it scrutinizes tenders it receives for the
project.
"Tens of companies are participating in the Yemen LNG
project but all of the participating companies are non-Israeli ones,"
the official affirmed.
"As the government is a shareholder in
the project through the (YLNG) and the Yemen Insurance Company and as
the chairman of the board of directors is Yemen's minister of Oil and
Minerals, Israeli companies can not be part of the project," the
official added.
The company exercises maximum transparency regarding the details of the project on which Yemen pins big economic hopes.
The
company welcomes journalists to familiarize themselves with the details
of executive works of the project, the official said, urging media to
exercise accuracy as to what they report.
Earlier, the Wahdawi
website reported that the Yemen Gas Company has signed a contract with
an Israeli company to install networks for laboratories at the company
sites in the Belhaf area of Shabwa province.
The
3.7-billion-dollar LNG project is the most important in the history of
the country that is a small producer of about 380,000 barrels per day
of oil.
The project is run by the Yemen Liquefied Natural Gas
Company, which is a joint venture owned by the state-run Yemen Gas
Company, French oil giant Total, US Hunt Oil Company, as well as Kogas
and Hyundai from South Korea.
The project was expected to generate the largest single revenue for the country.
The
Yemeni government expects the project to generate up to 20 billion
dollars over the course of 20 to 25 years after its completion in 2008.
The first phase of the project was inaugurated in October 2008.
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