Page 13 - DMEA Week 14 2022
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DMEA PIPELINES DMEA
Israel-Turkey pipe unrealistic in short term
MIDDLE EAST STRIKING an agreement for a gas pipeline con- Israel and Palestine with Energy Minister Fatih
necting Israel and Turkey and constructing the Donmez in mid-May and would discuss the
infrastructure will not be possible in the short appointment of ambassadors with his Israeli
term, Turkish Foreign Minister Mevlut Cavu- counterpart during the visit.
soglu said on March 31. Israel boasts the giant Leviathan gas field. It
With Europe scrutinising any workable has reserves of 620bn cubic metres (bcm) of gas
options for sourcing more non-Russian gas, the and could conceivably supply 10-12 bcm per
idea of flowing Israeli gas to European Union year to Europe. One political complication for
states via a pipeline link to Turkey has lately Turkey is that the required pipeline would have
gained more currency. Hopes that such a pro- to pass through the disputed island of Cyprus.
ject could soon be put in place have risen given Some analysts have suggested it would, given
how Turkey and Israel have lately been trying the issue of Cyprus, be both politically and tech-
to mend their relations. However, Cavusoglu, nically easier for Israel to pipe its gas to Egypt’s
speaking to Turkish broadcaster A Haber, dis- liquefied natural gas (LNG) plants. There it
pelled the notion that the gas project could be could be converted to LNG and shipped to buyer
realised quickly. nations. But it would also take years to realise this
Cavusoglu added that he would travel to project.
TERMINALS & SHIPPING
ADNOC L&S to operate KIZAD facility
MIDDLE EAST THE shipping subsidiary of Abu Dhabi National The shipping unit was formed in the 2016
Oil Co. (ADNOC) has signed a five-year deal to merger of Abu Dhabi National Tanker Co.,
operate a new facility at the emirate’s eastern Petroleum Services Co. and Abu Dhabi Petro-
Khalifa Industrial Zone (KIZAD) that will store leum Ports Operating Co.
petrochemical products. In March, the company was reported to have
In a filing on the Abu Dhabi Securities placed orders with China’s Jiangnan shipyard
Exchange (ADX), ADNOC Logistics & Services for two 175,000 cubic metre LNG carriers at a
(ADNOC L&S) said that it had bought the facil- reported price of $200mn each.
ity from AD Ports earlier this year, noting that Meanwhile, in November ADNOC L&S’
at 180,000 square km, the unit is one of the larg- parent was reported to be considering an initial
est advanced polymers storage facilities in the public offering (IPO) of the unit, following the
world. It was built by AD Ports in 2021. recent successful listings of ADNOC Drilling
The facility will be used to store polyolefin (11% for more than $1.1bn) and its Fertiglobe
products for ADNOC’s Abu Dhabi Polymers Co. JV with OCI (13.8% for $795mn).
(Borouge) joint venture (JV) with Austria’s Bore- Borouge is also said to be on a similar path,
alis, whose facilities are located in the Ruwais with banks hired in February ahead of the list-
downstream hub in the west of Abu Dhabi. ing of a minority share in the company, which
ADNOC L&S said the unit would “allow Bor- recently kicked off work on the Borouge 4 poly-
ouge to serve its global polymers export markets olefin plant. Upon completion of the expansion
thanks to its strategic location in KIZAD, and its project, Borouge will become the world’s largest
close proximity to Khalifa Port”. It added that AD single-site polyolefin complex, while output will
Ports would run the facility’s “operations serv- be used as feedstock for ADNOC’s world-scale
ing the needs of Borouge as the end-user”, while TA’ZIZ chemicals complex within the company’s
ADNOC L&S will be the “primary owner”. Ruwais Derivatives Park.
Week 14 07•April•2022 www. NEWSBASE .com P13
