Business & Economy
Written By: Yemen Observer Staff
Article Date: Jan 17, 2012 - 8:25:41 PM
Yemen LNG completed the year 2011 with the delivery of 106 LNG cargoes. This represents 100% of the annual delivery program that was committed to the gas buyers.
A pipeline sabotage occurred mid-October 2011 that was promptly repaired, allowing full delivery of the LNG as per agreed in the contracts. 60% of the LNG was delivered to Asia, 25% to the Americas and 15% to Europe. Diversions revenues contributed to increase the revenues by some 40%.
The year 2012 started with a strong signal of business stability as the Board of Directors Meeting was chaired on 4th and 5th January by the Minister of Oil and Minerals of the new Government.
The Board adopted the budget affirming the objectives to maintain a high security, to deliver the full annual contract quantities of LNG and to maximize the revenues through cargo diversions to Asia.
“Our reliability as an LNG supplier makes for a good international reputation of Yemen LNG and Yemen itself. We look forward to leveraging on this reliability to maximize, in full transparency, the sales revenues in 2012 and in the future years.” stated the General Manager Francois Rafin after the Board Meeting.
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