Daily Archives: July 15, 2017

Oil minister congratulates LNG Bahrain on global award

Manama: Oil Minister, Shaikh Mohamed bin Khalifa bin Ahmed Al Khalifa, has congratulated the Oil and Gad Holding Company, the chairman and members of the board of directors of Bahrain LNG W.L.L on winning the Middle East ECA Finance Deal of the Year award at the 2017 Venice Global Borrowers’ Summit held recently in Vencie – Italy.

Shaikh Mohamed expressed gratitude to the wise leadership for their directives and support to the oil and gas sector.

On this occasion, Shaikh Mohamed expressed his appreciation for the initiative demonstrated in growing Bahrain’s oil and gas sector saying: This strategic project represents an integral part of Bahrain’s infrastructure and central plans to become an industry hub that will continue to supply the industry with its requirements of natural gas, leading to sustainable national economic growth. This will ensure the Kingdom’s continued expansion and development in the energy sector and beyond, as well as a testament to the achievements of noga’s strategic projects..

The award was received by Qaisar Zaman, Chairman of Bahrain LNG W.L.L and General Manager of Investments at nogaholding. The Award was presented during a prestigious Gala dinner which was held as part of the Summit and attended by more than 1,000 finance industry experts and finance professionals from over 300 companies across the world.

Qaisar Zaman expressed thanks and appreciation to H.E. Shaikh Mohamed bin Khalifa Al Khalifa, the Minister of Oil, for his direction and support to Bahrain LNG. He also expressed appreciation to the constructive role played by Dr. Dhafer Al Jalahma, Acting Chief Executive of nogaholding and his team. He also praised the efforts of the Korea Trade Insurance Corporation (KSURE), sponsors and supporters who contributed to this major achievement, which aims to enhance Bahrain’s domestic gas production.

Bahrain LNG is a joint venture owned by the Oil and Gas Holding Company (30%), Teekay LNG Partners L.P. (30%), Gulf Investment Corporation – GIC (24%) and Samsung C and T (16%). A consortium of nine international and regional banks are financing the project with US $741m for a period of 20 years.

The project, located in Al Hidd industrial area in Muharraq, will consist of a Floating Storage Unit (FSU), an offshore LNG receiving jetty and breakwater, an adjacent regasification platform, a subsea gas pipeline from the platform to shore, an onshore gas pipeline and gas receiving facility, and an onshore nitrogen production facility. This project is due for completion in early 2019 and will have a capacity of 800 million standard cubic feet per day.

Source: Bahrain News Agency

BCCI Chief Executive Officer receives chamber official

Manama: Chief Executive Officer of the Bahrain Chamber of Commerce and Industry (BCCI) Dr. Khalid Al Ruwaihi received director of Client Care Center and Acting Director of the Legal Consultation Office of the chamber Mr. Fahad Al Shaer.

The latter presented Dr. Al Ruwaihi with a copy of his research titled The Exclusive Prerequisites for Appealing an Arbitral Verdict Under Bahrain Arbitration Law 9 of 2015.

Dr. Al Ruwaihi commended Mr. Al Shaer for his hard work and wished him every success.

Source: Bahrain News Agency

France Urges Qatar, Arab Neighbors to Resolve Diplomatic Standoff

France’s foreign minister has expressed concern about the deterioration of relations between Qatar and its Arab neighbors and called for sanctions that target Qatari nationals to be lifted.

Jean-Yves Le Drian spoke to reporters after talks with his Qatari counterpart, Sheikh Mohammed bin Abdulrahman Al-Thani, in Doha on Saturday.

A group of nations that includes Saudi Arabia, the United Arab Emirates, Bahrain and Egypt accuses Qatar of supporting terrorism and has given Doha a 13-point list of demands after severing diplomatic ties in early June.

Qatar has said it is willing to negotiate but will not give up its sovereignty.

“France calls for the lifting, as soon as possible, of the measures that affect the populations, in particular binational families, that have been separated, or students,” Le Drian told reporters in Doha after he his meeting with Al-Thani.

Later in the day, Le Drian flew to Jeddah, where he repeated his concerns about the effects of the standoff in a televised press appearance with Saudi Foreign Minister Adel al-Jubeir.

Jubeir said any resolution of the worst Gulf crisis in years should come from within the six-nation Gulf Cooperation Council.

“We hope to resolve this crisis within the Gulf house, and we hope that wisdom prevails for our brothers in Qatar in order to respond to the demands of the international community � not just of the four countries,” he said.

He reiterated that Qatar should not support terrorist groups and their financing or host their members and should end incitement through the media.

Qatar has repeatedly denied such accusations and rejected demands to close down the Al Jazeera network, as initially requested by the boycotting states.

Le Drian, who will visit the United Arab Emirates and Gulf mediator Kuwait on Sunday, followed in the steps of other world powers in the region, including the United States.

U.S. Secretary of State Rex Tillerson visited the region earlier this week but left with little apparent progress in resolving the standoff.

Source: Voice of America

BTEA chief meets S. Korean envoy

Manama: The Chief Executive Officer of the Bahrain Tourism and Exhibitions Authority (BTEA), Shaikh Khalid bin Humood Al Khalifa, received the Ambassador of the Republic of Korea to the Kingdom of Bahrain Koo Hyun-Mo.

During the meeting, Shaikh Khalid bin Humood Al Khalifa welcomed the Korean Ambassador and discussed means to further reinforce bilateral relations; creating strong ties between both countries specifically in the tourism field in line withBTEA’s long-term strategy.

Shaikh Khalid also stressed on the important role played by the Republic of Korea on the global trade scene.

The Korean Ambassador expressed his gratitude for the warm welcome and affirmed his commitment to enhance relations between both countries in the tourism field and further explore other bilateral initiatives.

Source: Bahrain News Agency

Works minister meets Hamad Town MPs

Manama: Works, Municipalities Affairs and Urban Planning Essam bin Abdulla Khalaf held a meeting with MPs representing Hamad Town.

The session, which was attended by other officials, focused on a project which will be carried out at bloc 1212, in cooperation with Eskan Bank.

The minister said work on the project would hopefully start late this year pending completion of legal and contracting procedures, in addition to required services.

He discussed with the MPs the possibility of turning open spaces into parking lots, in light of demographic density and urban development in the area.

They underlined the importance of constructing a shopping complex which will supply the area with basic food needs.

Assistant Undersecretary for Municipal Services Raed Al-Salah gave a presentation detailing aspects of the project which will include a parking lot, shops and an air-conditioned market for fruit, vegetables, meat and fish, in addition to other amenities.

Source: Bahrain News Agency