Page 15 - DMEA Week 31 2021

DMEA NEWS IN BRIEF DMEA

specialists, adding: “Previously, foreign year earlier. The official further stated: “If sufficient
specialists and companies assembled and Benyan said his company, which is 70% gas is supplied and delivered by the National
prepared these compressors.†owned by Saudi oil giant Saudi Aramco, will Iranian Gas Company (NIGC) and the
He stressed the importance of increasing remain focused on the Saudi market, as well maximum gas injection continues until
the production of propane and butane gases: as the United States, China and Africa, where October, the injection is expected to reach
“These gases have a high temperature it is exploring growth opportunities, although about 2 billion cubic meters and the amount
when transferred to storage tanks, and with he did not give details. of reproduction in the final four months of
the use of refrigeration compressors, the SABIC said earlier in a bourse filing that this [calendar] year will be an average of 15
temperature of these gases is reduced to 2021 is set to be a stronger year than 2020, and million cubic meters per day.â€
prevent evaporation and their full capacity is it expects margins to moderate but remain Rajabi also said the amount of gas stored
used.†healthy as oil prices and feedstock costs in the Sarajeh storage facility in Qom is now
The purpose of Phase 19 South Pars Project remain elevated, supply constraints ease and more than 100% of the plan and this process
is to produce 56.6 million cubic meters of rich new capacity comes on line. continues accordingly.
gas, 75,000 barrels of gas condensate, 400 tons The company said it does not plan to tap SHANA
of sulfur per day and also produce 1.05 tons of the debt market as its financials remain solid.
liquefied petroleum gas (propane and butane) REUTERS Lamu shippers call for
and one million tons of ethane annually to
feed petrochemical units. dredging of shallow
SHANA TERMINALS & SHIPPING
Gas storage in Shurijeh channels to ease navigation
PETROCHEMICALS Shippers in Lamu island are calling for
the dredging of two major channels in the
SABIC expects strong H2 plant exceeds 1 bcm archipelago to allow for smooth navigation of
larger boats.
The amount of gas stored in the Shurijeh
after $2 bln quarterly profit storage facility has reached more than one to Mand channel and that of Mkanda to
They want the 500-meter long Lamu island
billion cubic meters so far.
Petrochemicals giant Saudi Basic Industries According to the Iranian Central Oil Fields Kililana which is about 1.5 km long dredged
Corp (SABIC) swung to a $2 billion quarterly Company, Ahmad Rajabi, the company’s to deepen and widen them so as to allow ease
profit and said it expects solid performance to production manager, said: “With the of use by larger vessels during all seasons.
continue in the second half of 2021, backed by coordination made between the company’s Currently, the two channels cannot be
healthy demand and rising oil prices. production management, East Oil and Gas navigated by larger vessels during low tide.
SABIC, the world’s fourth-biggest Production Company and the coordination Shippers have to wait for the tide to rise
petrochemicals company by sales and asset and production management of the National before they can embark on their journeys
value, swung to a second-quarter profit of 7.64 Iranian Oil Company and the National while others are forced to start their travels
billion riyals ($2 billion) from a 2.22 billion Iranian Gas Company (NIGC), the amount extremely early before the tide drops.
riyal loss in the same period last year, beating of gas storage in the Shurijeh reservoir of Speaking on Tuesday, Lamu Boat operators
the average forecast of 6.1 billion riyals by six Khangiran Sarakhs has exceeded one billion Owners and Association chairperson Hassan
analysts according to Refinitiv data. cubic meters.†Awadh said the current shallowness of the two
“Average selling prices rose by more He added: “Considering the 1.856 channels was brought about by the dredging
than 10% backed by oil price increases and billion cubic meters of gas storage record in at the Lamu port-LAPPSET site in Kililana,
healthier demand. We expect the second [the calendar year of] 1399 (which ended on Lamu west a few years back.
half of 2021 to be similar to the first half,†March 20) and the key and strategic role of The seabed within these two channels
CEO Yousef al-Benyan told a virtual news this reservoir in the supply and production has continued to rise over the recent years,
conference. of gas in the winter in the northern and making it shallow and unable to hold larger
SABIC sales jumped 72.3% to 42.4 billion northeastern provinces, plans were made to marine vessels during low tide.
riyals in the second quarter from 24.6 billion a break this record in the current year.†“The dredge spoil from the LAPSSET

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