Oil & Gas Iran to build new pipeline for Turkmenistan gas By Pramod Kumar July 4, 2024, 6:36 AM Reuter/Essam Al-Sudani Iran will receive 10 billion cubic meters a year of gas from Turkmenistan, which will be shipped to Iraq Iranian companies will construct a new 125 km pipeline to expand Turkmenistan’s gas delivery capacity to 40 billion cubic metres a year, according to a media report. Iran will receive 10 billion cubic metres a year of gas from Turkmenistan, which will be shipped to Iraq, Associated Press reported, quoting Turkmenistan’s foreign ministry statement. The value of the deal was not given. NewsletterGet the Best of AGBI delivered straight to your inbox every week Tehran has trebled its natural gas production in 10 years, becoming the largest producer in the Middle East. It holds the world’s second-largest gas reserves after Russia and produces 740,000 tonnes of gas, or 35 billion cubic feet per day (cfd). Iran, Iraq and Libya among worst offenders on gas flaring Iran needles the West with its growing oil production goals As Iran mourns, questions about its oil remain The country said last January that it planned to begin LNG production of 1.5 million tonnes, or 72 billion cubic feet per year at a medium-sized plant at Asaluyeh in 2026, but experts do not believe its ambitions are realistic. Work on the “Iran LNG” project at Tombak, near the Gulf port of Assaluyeh, has not progressed since 2013.
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 2 hours ago
Tax $660m a year ‘sin tax’ target set by Kuwait Kuwait hopes to raise 200 million dinars ($660 million) a year through a “sin tax” on unhealthy products as part of tax reforms proposed by the International Monetary Fund, the country’s finance minister said on Wednesday. Noora Al-Fassam told the official Kuwaiti news agency that her ministry was working on a new law for a […] 1 hour ago
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] 50 mins ago
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 4 mins ago
