Dana Gas eyes March completion for UAE pipeline

 
Dana Gas expects to complete an onshore gas pipeline with state-owned Emirates General Petroleum Corporation (Emarat) this month, the United Arab Emirates-based energy firm said.

Dana Gas and Emarat each own 50 per cent of the Hamriyah gas pipeline, first announced in January 2006, which will connect a gas hub at Sajaa in the UAE emirate of Sharjah with the Hamriyah industrial area, Dana said in a statement on Friday.

The 32-kilometre, 48-inch pipeline will have a capacity to pump one billion cubic feet of gas per day once it is complete, Dana Gas said.

Abu Dhabi-listed Dana Gas posted a near 15 per cent rise in fourth quarter revenue compared with the third quarter on higher production from its Egyptian gas operations and prices. The company now relies on Egypt for all of its income. (Reuters)