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BRIEF: Cabinet endorses gas deal with Shell

AMMAN — The Cabinet on Sunday approved an agreement between the National Electric Power Company and Shell to sell and purchase liquefied gas.

Shell was chosen after an international competitive tender was floated by an ad hoc ministerial committee to attract the best prices, the Jordan News Agency, Petra, reported.

Several local and international companies applied for the deal, under which around 15 per cent of Jordan’s energy needs will be covered.

In late November, Aqaba Development Corporation Chief Executive Officer Ghassan Ghanem said the implementation rate of the JD55 million Aqaba liquefied gas terminal was around 65 per cent.

Jordan intends to buy natural gas from Israel, tap its oil shale potential, build a nuclear reactor and allow an Iraqi pipeline to cross the Kingdom to Aqaba Port as part of a strategy to address a crippling energy issue, as more than 95 per cent of the country’s energy needs are imported.

In related news, Potter Township plans for development, with or without Shell.

This article was from Jordan Times, Amman and was legally licensed through the NewsCred publisher network.

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