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Dolphin Energy Signs Long Term Gas Sales Agreement With Dubai Government For Future Supplies
Direct Delivery by Pipeline to DUSUP in Jebel Ali
Dolphin Energy Limited today announced the signature of a Gas Sales Agreement with the Dubai Supply Authority (DUSUP), to deliver future supplies of Dolphin gas from Qatar to DUSUP in Jebel Ali, from 2007.
The signing ceremony took place at the Palace of His Highness Sheikh Hamdan Bin Zayed Al Nahayan, the UAE's Deputy Prime Minister and Minister of State for Foreign Affairs, who is also Chairman of Dolphin Energy Limited. The Agreement was signed by Sheikh Hamdan on behalf of Dolphin Energy and by His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of DUSUP.
The Agreement with DUSUP provides for the supply of up to 700 million standard cubic feet of gas per day (scf/day) of Dolphin natural gas from Qatar for a period of 25 years.
The Dolphin Project is a unique strategic regional energy initiative. It involves the development of natural gas reserves in Qatar's offshore North Field, their processing onshore at Qatar's Ras Laffan industrial city - and transportation by sub-sea export pipeline of up to 3.2 billion cubic feet a day (bcf/d) of refined natural gas to the UAE.
On behalf of Dolphin, HH Sheikh Hamdan Bin Zayed said: "With this important agreement, Dolphin Energy confirms its commitment to meet DUSUP's future requirements through a stable, clean and cost-effective supply of natural gas.
"DUSUP will not only be an important customer - as the strategic energy developer for the Emirate of Dubai, DUSUP will become a long-term partner. This agreement highlights Dolphin Energy's commitment to meet the future requirements of the UAE energy sector."
For DUSUP, Chairman HH Sheikh Ahmed Bin Saeed Al Maktoum stated: "We welcome the opportunity to work with Dolphin Energy in meeting the growing need for clean energy in Dubai. This contract with Dolphin will enable us to serve our market competitively and efficiently. " In October 2003, Dolphin signed long term gas sales agreements with two other major customers, Abu Dhabi Water & Electricity Company and Union Water & Electricity Company of Fujairah.
Dolphin Energy Limited
Dolphin Energy Limited was created to develop substantial energy projects throughout the GCC. Its objective is to create long-term economic wealth and new business opportunities for GCC citizens, far into the future. Dolphin Energy’s major strategic initiative, the Dolphin Project, involves the production and processing of natural gas from Qatar’s North Field, and transportation of the dry gas by sub-sea pipeline across joint UAE-Qatari waters to the UAE, beginning in 2006.
Dolphin Energy’s first initiative, the Al Ain to Fujairah Pipeline, came on stream in January 2004.The pipeline supplies the Fujairah Water and Power Plant on the UAE’s East Coast – initially with natural gas from Oman, and subsequently with Dolphin gas from Qatar. In May 2005, Dolphin began to supply natural gas to the UAE Emirate of Ras Al Khaimah. The gas is being delivered via a tie-in near Qidfa between Dolphin’s Al Ain - Fujairah pipeline and the existing Emarat gas pipeline network.
Dolphin Energy is owned 51 percent by Mubadala Development Company, on behalf of the Government of Abu Dhabi – and 24.5 percent each by Total of France and Occidental Petroleum of the USA.
Detailed information about Dolphin Energy can be found on www.dolphinenergy.com
For further information contact:
Mirna Hijazi
Corporate Communications Manager
Tel +971 2 6995500
Fax +971 2 6995578