Gascities launches 'Yemen Gas City' in the presence of H.E. Yemeni Prime Minister

The signing ceremony took place at the office of the Yemeni Prime Minister, H.E. Ali Mohammed Mujur, who expressed his optimism regarding the success of such innovative concepts, and his confidence that it would be of great benefit to the Yemeni people and economy.

Also present at the ceremony were H.E. Amir Salem Al-Aydaros, Yemen's Minister of Oil & Minerals, Mr Awadh Al-Suqatri, Minister of Electricity & Energy and Mr Abdul Kareem Al-Arhabi, Minister of Planning & International Co-operation.

Amir Salim al-Aydarus, Yemen's Minister of Oil & Minerals said of the project, said:

"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 catalyze 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 Ltd to progress this project in the most optimal manner."

Speaking of the agreement, Badr Jafar, Chairman of Gascities Ltd said, "We are very proud to be entering into this Agreement with our brothers in 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 by achieving maximum value generation through use in power generation and local industry, such as Cement and Steel industries as well as Industrial Clusters promoting agribusinesses, food processing, construction materials, and plastics processing."

Badr Jafar explained that Phase 1 of the Project would be a comprehensive analysis, where Gascities Ltd, along with its joint venture partners Dana Gas PJSC and Crescent Petroluem, will work with the Yemeni Government to establish a viable feedstock profile and finalise the optimal location for the new gas-based Industrial City.

Badr Jafar added, "At this point it is envisioned that Yemen Gas City will comprise a chemistry park containing methanol and fertiliser factories; a utilities hub that will make the project completely self-sufficient for all utilities, 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."

'Gas Cities', are self-sustaining, fully integrated industrial cities designed for the systematic and comprehensive utilization of natural gas as fuel and feedstock, being developed across the Middle East, North Africa and South Asia (MENASA) Region.

The Gas City concept involves developing a sustainable industrial City based on primary gas processing industries in tandem with clustered, high employment industries supported by a commercial services sector. It is intended to provide an attractive residential and amenity quarter, as well as a strong set of educational facilities to support industry and business development within the City.

Gascities Ltd is currently working on establishing a number of Gas Cities throughout the Middle East, North Africa and South Asia (MENASA) region, with the common principle of maximizing the economic benefit of locally-produced natural gas through generating mass local industry, jobs and foreign direct investment.