Business | Oil & Gas
Crescent Petroleum and Dana Gas plan four gas cities in Mena region
The UAE's Crescent Petroleum and affiliate Dana Gas are planning to set up at least four gas cities in the Middle East and North Africa.
- Reuters
- Published: 00:23 November 4, 2008
Dubai: The UAE's Crescent Petroleum and affiliate Dana Gas are planning to set up at least four gas cities in the Middle East and North Africa.
Crescent's executive director Majid Jafar told the Reuters Middle East Investment Summit the company was looking to invest several billion dollars on the infrastructure of those cities.
"We submitted several proposals but in Kurdistan, it's the most advanced," he said, adding that the land has been allocated and they have already started gas production.
"We are also pursuing projects in two other locations in the GCC [Gulf Co-operation Council] and in North Africa," and they will be gas cities, Jafar said.
The companies began supplying gas in Iraq's Kurdistan after completing the first stage of a $650 million (Dh2.39 billion) project.
"We have been approached by authorities in other parts of Iraq to replicate the gas city concept in Anbar and Basra because the same economic drivers exist," Jafar, who is also a board member at Dana Gas, said.
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