قاطـــرة الطلــب العا٠لــي علــى النفــط - OAPEC

Organization of Arab Petroleum Exporting CountriesSaudi ArabiaSaudi Aramco and Dow Chemicals signed on October 8, the Joint Venture (JV)Shareholders Agreement for Sadara Chemical Company .Sadara is a joint venture that construct, own and operate a world-scale integratedchemicals complex in Jubail Industrial City II, in the Eastern Province of Saudi Arabia.Once complete, the JV’s chemical complex will represent the largest petrochemicalfacility ever built in one single phase.The plant will make 3 million tons of chemical products a year, and is expected togenerate about $10 billion of revenue per annum within a few years, Aramco chiefexecutive said.Aramco owns 65% of the Sadara venture and Dow Chemical the rest. All 26 units ofthe Sadara project will be built in one phase and work is already underway preparing theground. First production units are expected to come online in the second half of 2015and all units are expected to be complete by 2016. The overall cost will be less than $20billion, the chief executive added.IV. Other Arab and World NewsRussiaOn 8 November Russian President and other European leaders inaugurated the firstphase of the Nord Stream’s twin 1,224km gas pipelines - new offshore transportation route– which will carry Russian gas to Europe via the Baltic Sea. Project partners Gazpromof Russia, Germany’s BASF/Wintershall and E.ON Ruhrgas, Gasunie of the Netherlandsand France’s GDF Suez issued a statement saying that when fully operational in late 2012,Nord Stream’s two lines will have the capacity to transport 55 bcm/year of Russian gas tothe EU for at least 50 years.The start-up of the first of the twin strategic gas pipelines marks a new chapter inRussia – Europe energy relationship and a reduction in European and Russian transitdependence on Belarus and Ukraine. The $11bn Nord Stream pipleline runs from Russia’sBaltic Sea port city of Vybord to Lubmin in Germany, and will initially be able to deliver27.5 bcm/year of gas.17Volume 37 Issue 12