Published:09-11-2009

SANA'A, Nov. 8 – Yemen has started officially exporting gas shipments from its strategic project in Balhaf Port on the Arab Sea
President Ali Abdullah Saleh, who launched the first shipment of gas to international markets in Asia, Korea and to the two Americas on Saturday, said the project is good for all Yemeni citizens
In a statement he made to state-run Yemen News Agency (Saba), Saleh said the project, which worth nearly USD 5 billion, will provide work opportunities to more than 10 thousand Yemeni laborers
But Saleh said the projects needs security and stability "Strategic projects need security, safety and stability. Any strategic and developmental project can not be achieved only under security, safety and stability."
Launching the gas project sends a clear message to the world that Yemen is a suitable land for investments, said Minister of Oil and Minerals Amir Al-Aidrus. The project adds Yemen to world gas map that exports clean energy to major markets in Asia and the two Americas .
  Al-Aidrus said, in addition to current Asian, American and Mexican markets, the project will target European and Indian in the future.  He said the project that took 15 years of construction, and will generate USD 30-50 billion to Yemen in its 25 years.
  The first shipment was 149 thousands cubic meters carried from Balhaf Port by a Korea Gas Corporation (KOGAZ) tanker to Korean markets, said Ministry of Oil and Minerals spokeperson, Aref Moharram. The second shipment will be 160 thousands cubic meter will be carried by Yemeni Arwa Tanker to American markets.
 Moharram said the regularly scheduled export of gas from the port to the international markets will be one shipment of 149 thousand cubic meters every two weeks. The company, he said, owns four tankers for carrying the gas, in addition to three other rented ones from KOGAZ.
On Oct. 15, Yemen Liquefied Natural Gas (LNG) announced the Company started producing from its liquefaction terminal in Balhaf, on the Gulf of Aden.
The Yemen LNG project is the largest and most important investment ever made in Yemen with an investment of around USD 4.5 billion. It consists of supplying gas from Block 18, located in the Marib region in central Yemen, through a 320 kilometre pipeline to the LNG plant located at the port of Balhaf on the Arab Sea, south east of Yemen.
The plant started production with the first train while the construction of the second train is being completed. The total production capacity will reach 6.7 million tons of LNG per year.
Launched in August 2005, the project shareholders are TOTAL (project leader) (39.62 percent), Yemen Gas Company (16.73 percent), Hunt Oil Company (17.22 percent), SK Energy Co., Ltd. (9.55 percent), KOGAS (6 percent), the General Authority for Social Security and Pensions of Yemen (5 percent) and Hyundai Corporation (5.88 percent).