Dolphin signs major gas supply contracts

Dolphin Energy Limited (DEL) signed long-term agreements to supply natural gas to two major UAE power and water companies as it pushed ahead with plans to begin pumping gas from Qatar's giant North Field in 2006.
Sheikh Hamdan bin Zayed Al Nahyan, Deputy Premier and Minister of State for Foreign Affairs, signed the two deals with the Abu Dhabi Water and Electricity Authority (ADWEA) and the Union Water and Electricity Company (USEC).

"The agreements are an essential step in cementing Dolphin's role as a leading Middle East gas developer," said Sheikh Hamdan, who is DEL's Chairman.
"The continuous support of His Highness Sheikh Khalifa bin Zayed Al Nahyan, Crown Prince and Deputy Supreme Commander of the UAE armed forces, has been instrumental in developing this project and making it a reality for the people of the UAE."

The contract with ADWEA, signed by its chairman Sheikh Diab bin Zayed Al Nahyan, provides for the supply of gas from Qatar for 25 years to ADWEA's subsidiaries Al Taweela Power Company, Al Arabiya Power Company, Emirates CMC Power Company and Gulf Total Tractebel.
The deal with UWEC, signed by its chairman Sheikh Hamed bin Zayed Al Nahyan, also involves natural gas supplies for 25 years. The gas will be supplied to UWEC's new power and desalination plant in Fujeirah through a pipeline that will pass through Taweela in Abu Dhabi and existing landlines in Al Ain.

"This contract will succeed the short-term agreement for initial provision of natural gas by Dolphin from Oman, signed with UWEC in February," a statement said.
"With this important agreement, Dolphin confirms its commitment to meet UWEC's future requirements with a stable, clean and cost-effective energy supply... everything is now in place to meet UWEC's long-term demand for natural gas," Sheikh Hamdan said.

DEL said it was pressing ahead with its plans to launch gas supplies in 2006 from Qatar's offshore North Field, the biggest single reservoir of natural gas in the world. It has estimated deposits of more than 10 t cm, making Qatar the third gas power after Russia and Iran.
DEL's shareholders include the UAE Offset Group, which is wholly owned by the Abu Dhabi government, Total of France and Occidental Petroleum of the US.