Bids are due to be submitted by the end of November for the engineering, procurement and construction (EPC) contract to build a liquefied petroleum gas (LPG) plant at Marib. About four international EPC contractors have been invited to bid for the estimated $100 million project, which is being developed by Marib Gas Company (MGC), a joint venture between National Yemen Gas Companyand Midgas Group- a consortium of private UAE-based investors. An award is expected in the first quarter of 2005. Construction will take about two years.
The plant will have capacity to process 500 million cubic feet a day of gas, with 70 per cent of its output earmarked for local consumption. MGC is negotiating medium-term offtake agreements with a number of overseas energy firms for the remainder. The project promoter is likely to finance the scheme on a 70:30 debt/equity basis. The front-end engineering and design (FEED) work has been completed by a team of Belgium's Tractebel Engineeringand the UAE's Global Process Systems.
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