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Qatar ‘to consider selling gas in euros’
Matthew Brown, Bloomberg via Gulf Times
QATAR, the world’s largest shipper of natural gas, will consider selling gas in euros, instead of dollars, HE the Finance Minister Yousef Hussain Kamal said, reducing global demand for the US currency.
Qatar would consider selling gas in euros if a customer requested a “special contract,” Kamal, who is also in charge of the Economy and Commerce Ministry, said in an interview in Doha yesterday.
.. Other energy producers, including Iran, Venezuela and Indonesia, are already looking to sell their commodities, currently priced in dollars, in euros.
Moreover, the United Arab Emirates will convert 8% of its foreign-exchange reserves to euros from dollars before September, the country’s central bank governor said on December 24. Syria has also said it will replace dollar holdings with the euro.
The dollar has fallen almost 9% against the euro in the past 12 months as concern the US may struggle to finance its current account deficit, the broadest measure of trade in goods and services, has grown.
Kamal also said Qatar favoured sharing information with other gas exporters even though it’s opposed to the setting up a group modelled on Opec to control prices and supplies.
“At this time, we don’t have (an Opec-style group) on our agenda,” Kamal said. “Everyone will appreciate sharing information, about the market, about capacity, about technology, about the environment.”..
(10 Feb 2007)
Strategic Accords Likely During Putin’s Visit Today – KSA
Arab News via MENAFN
RIYADH, 11 February 2007 — Russia and Saudi Arabia are expected to sign three major agreements and two memorandums of understanding (MOUs) as Russian President Vladimir Putin arrives in the Saudi capital today on his first visit to the Kingdom. ..
The large trade delegation, which consists of nearly 60 business executives, is expected to explore a wide range of investment opportunities, mainly in oil exploration and railways.
“Lukoil (Russia’s largest privately held oil producer) and Saudi Aramco are seeking areas of cooperation to explore oil wells in the south of the Kingdom,” said Koudriavtsev.
In January 2004, Lukoil won a tender to develop a Block A natural gas field in the Empty Quarter. Lukoil signed a 40-year contract with the Saudi government to explore and develop the natural gas deposit.
Russia’s energy giant Gazprom is also showing interest in energy projects in the country. Saudi Arabia is estimated to be tendering $20 to $25 billion worth of investment in the natural gas sector. ..
(11 Feb 2007)
N.Korea strives to win energy
Lee Jong-Heon, United Press International
SEOUL — North Korea has largely focused its demands at the international nuclear talks on a supply of heavy fuel oil in return for steps toward nuclear disarmament, reflecting the country’s acute energy shortages, officials and analysts in Seoul say.
(9 Feb 2007)
See also Seoul Wants 6 Nations to Shoulder Burden for Energy Aid to NK.
Arab nuclear ambitions stir arms race jitters
Reuters via Khaleej Times
Revived Arab interest in nuclear power has prompted fears that Iran’s atomic ambitions might ignite a new arms race in an already unstable Middle East.
Sunni Muslim countries such as Saudi Arabia, Egypt and Jordan, which are all US allies, do not hide their worries about rising Iranian and Shia Muslim influence in the region, as well as Teheran’s suspected quest for nuclear weapons.
…Arab countries offer economic justifications for exploring nuclear options in long-term energy strategies to conserve dwindling hydrocarbon reserves and meet rising demand as their economies grow and their populations expand.
“Some countries have oil and maybe they are not in a hurry to start a programme to build nuclear power plants tomorrow, but they are interested in feasibility studies,” Mahmoud Nasreddin, director-general of the Arab Atomic Energy Agency told Reuters.
“It is wise to start thinking about diversifying their sources of energy – solar, wind or nuclear,” he said.
(11 Feb 2007)
How close is Iran to a nuclear bomb?
Gordon Corera, BBC
In the coming days, Iran is expected to make what is being billed as a major announcement on its nuclear programme to coincide with the anniversary of the Iranian revolution.
But just how close is Iran to mastering nuclear technology?
Both Iran and some of its critics may have their own reasons for exaggerating the progress – but the real truth is hard to establish.
In its announcement, Iran may claim to have begun large-scale industrial enrichment of uranium.
But any statement is likely to be as much about political positioning as real technical progress, according to nuclear analysts.
(10 Feb 2007)
Submitter SP writes:
Of course the headline could just as well have been “How close is Iran to nuclear power?”
Gas Centrifuge
Zippe-type centrifuge
(Note:”Uranium enriched to around 5% can be used as nuclear fuel, but if it is enriched to around 90% it can be used in a weapon.” probably paraphrased from wikipedia en.wikipedia.org/wiki/Zippe-type_centrifuge)
