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Dolphin Signs Long-term Gas Contracts with UWEC

Source: www.gulfoilandgas.com 10/19/2003, Location: Middle East

Abu Dhabi, Sunday October 19, 2003 – Dolphin Energy Limited (DEL) announced today the signature of binding agreements to supply of future Dolphin gas to the Union Water & Electricity Company (UWEC).

The signings took place at the Palace of His Highness Sheikh Hamdan Bin Zayed Al Nahyan, the UAE's Deputy Prime Minister and Minister of State for Foreign Affairs, who is also Chairman of Dolphin Energy Limited.

The contract between Dolphin Energy and UWEC was signed by Sheikh Hamdan and UWEC Chairman His Highness Sheikh Hamed Bin Zayed Al Nahyan.

Abu Dhabi Emiri Decree No 8 of 2002, issued on May 26 last year, approved the incorporation of Dolphin Energy and defined its role in detail. On May 28, 2002, the Abu Dhabi Supreme Petroleum Council issued its Decision Number 1 of 2002, which clarified Dolphin's responsibilities and described its marketing and distribution tasks.

The Dolphin Gas Project is a unique strategic regional energy initiative, which comes on stream in 2006. It involves the development of substantial natural gas reserves from Qatar's offshore North Field, their processing onshore at Qatar's Ras Laffan – and transportation by export pipeline of up to 3.2 billion cubic feet a day (bcf/d) of refined natural gas to the UAE.

Long Term Supplies to UWEC in Fujairah

The contract with UWEC provides for supply of Dolphin natural gas from Qatar for 25 years.

Under its terms, the natural gas will be supplied by Dolphin to UWEC for its new power and desalination plant in Fujairah, on the UAE's East Coast. The gas will flow through Dolphin's dedicated export pipeline to landfall at Al Taweelah in Abu Dhabi. It will then be pumped via existing landlines to Al Ain -- and thereafter through the new 182 kilometer, 24-inch Dolphin pipeline to Fujairah, to be completed this December.

The contract will succeed the short-term agreement for initial provision of natural gas by Dolphin from Oman, signed with UWEC in February this year. This stipulated that Dolphin would supply UWEC with Oman Oil Company gas for between 3.5 and 5 years – from1st Quarter 2004 – prior to the completion of the Qatar link.

"With this important agreement, Dolphin Energy confirms its commitment to meet UWEC’s future requirements with a stable, clean and cost-effective energy supply," Sheikh Hamdan said at the signing ceremony. "Everything is now in place to meet UWEC’s long-term demand for natural gas."

For UWEC, Sheikh Hamed commented: "The future success of UWEC depends on secure gas supplies. This contract with Dolphin Energy will therefore enable us to serve our market competitively and efficiently. It will be a vital element in our program to supply energy to homes, business and industries across the UAE for decades to come."

Sheikh Hamdan and Sheikh Hamed paid collective tribute to the Omani leadership for its role in assisting the project's initial development. Sheikh Hamdan added: "We now have the makings of a regional gas grid. In future, we will even be able to supply Oman with gas for its own future projects – as and when required."


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