Business

Oil Ministry develops strategy for liquefied gas

National Yemen

Ahmed Abdullah Daras

By NY Staff

The Ministry of Oil and Minerals has prepared a strategy for liquefied natural gas price changes for foreign markets.

At its last meeting, the cabinet authorized the ministry to complete its findings to improve the sales of Yemeni gas to the U.S. market in 2013, as well as to negotiate gas prices for all contracts starting in 2014. Oil and Minerals Minister Ahmed Daress confirmed that his ministry had succeeded in modifying sales prices for 70% of gas that is exported. T

The government has mandated that the Ministry of Oil use excess energy from the Belhaf pipeline for the state’s benefit, whether for domestic or foreign use.

Gas pipeline bombings in Shabwa have affected the flow of gas in the rest of the country’s pipelines. A source has stated that Yemen loses more than $2.7 billion annually as a result of sabotage and looting in the Marib Al-Jawf basin.