Gascities, a joint venture between Dana Gas and Crescent Petroleum, has reached an agreement with the Yemeni government to investigate the development of its Gas City concept within Yemen.
Phase one of the project will be a comprehensive analysis of possible locations for the gas-based industrial city.
“The Gas City concept has the potential to promote significant economic activity in Yemen and bring substantial foreign investments directly into our local markets. In turn, this will catalyse economic growth and encourage investment-driven developments to grow job placements, all of which is particularly important in the current global economic climate. We look forward to working with Gascities to progress this project in the most optimal manner,” Amir Salim al-Aydarus, Yemen’s Minister of Oil & Minerals said of the project.
Gas cities are self-sustaining, fully integrated industrial cities designed for the systematic and comprehensive utilisation of natural gas as fuel and feedstock. Gascities is working on establishing a number of the cities throughout the MENA region.
