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Sun 18 Jan 2009 11:53 AM

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UAE's Dolphin eyes gas export increase - paper

Gas company reportedly needs new agreement with Qatar to increase exports.

The UAE's Dolphin Energy hopes to increase its gas exports to existing clients in the long term but does not have the supplies to add new clients, its general manager said in comments published on Sunday.

Adel Albuainain told Qatar's al-Watan newspaper that increasing exports would require a new agreement with Qatar.

The $4.8 billion Dolphin project linking Qatar's giant North Field with the UAE and Oman was the first cross-border gas project in the Gulf Arab region. It pumps around 2 billion cubic feet per day to the UAE.

Albuainain said Dolphin had started supplying gas to Oman on Oct. 31, in line with a 25-year contract signed in 2005 to pump 200 million cubic feet a day, after a delay caused by technical problems with gas compression on the Omani side of the project.

Dolphin had not been affected by the global financial crisis because it has 25-year contracts with Qatar and its clients, Albuainain said.

Mubadala Development Co, run by the government of the UAE emirate of Abu Dhabi, owns 51 percent of Dolphin while France's Total and US Occidental each have a 24.5 percent stake. (Reuters)

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