Texas-based Dynegy Global Liquids Inc. and the Bahrain National Gas Company (Banagas) recently announced that they have entered into a joint venture to pursue natural gas liquids-related opportunities throughout the Middle East and North Africa, confirmed a press release.
Dynegy and Banagas will each own a 50 percent interest in the new company, which will be headquartered in Bahrain. Under the joint venture agreement, the companies will invest in gas processing, extraction, conditioning, storage, transportation, and terminal facilities for the manufacture and delivery of natural gas liquids worldwide.
Banagas, owned by the Government of Bahrain, Arab Petroleum Investments Corporation and Caltex processes all associated natural gas produced in Bahrain. It also produces and exports propane, butanes and naphtha and supplies residue gas to industrial customers.
Dynegy Global Liquids has served as Banagas’ exclusive natural gas liquids marketer and exporter since February 2001. Formed in 1979, it employs 350 people, 93 percent of whom are Bahraini nationals.
Dynegy has experience in natural gas processing and natural gas liquids manufacturing, transportation, storage and terminal operation. It also facilitates international marketing, trading and the transportation of liquefied petroleum gas. The company owns an interest in 26 gas processing plants and three liquid fractionation facilities. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
