Gascities Ltd, a joint venture company established between the UAE-based Dana Gas and Crescent Petroleum has announced that it has reached an agreement with the Yemeni Government to investigate the development of its proprietary Gas City Concept within Yemen.
“Our proposed Yemen Gas City will help provide a focus for the Yemeni Government’s plans to make optimal use of Yemen’s increasing natural gas reserves,” Badr Jafar, chairman of Gascities Ltd, said.
Jafar also said that phase one of the project would be a comprehensive analysis, where Gascities will work with the Yemeni Government to establish a viable feedstock profile and finalise the optimal location for the new 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,” Amir Salim al-Aydarus, Yemen’s minister of oil & minerals said.
Yemen Gas City will comprise a chemistry park containing methanol and fertiliser factories; a utilities hub and will provide additional power that can be utilised by the Yemen national electricity grid, industrial clusters with a supporting services sector, and residential and municipal developments.
