Dansk Olie og Naturgas A/S, Polish Oil & Gas Co. (POGC), and Statoil signed an agreement to assess the possibility that BalticPipe�a planned pipeline which, in the first phase, is to transport gas from Denmark to Poland�can form part of a future pipeline from the Norwegian Continental Shelf to Poland. Such a pipeline would primarily be used for transporting gas under a contract which is currently being negotiated between POGC and the Norwegian Gas Negotiation Committee. It is planned that negotiations on BalticPipe will be completed by yearend in order to have the pipe in operation by Oct. 1, 2003.
M.E. Zukerman Energy Investors said it has acquired another 11.5% interest in the Cortez pipeline, increasing its ownership to 13%. The $600 million pipeline ships carbon dioxide 500 miles from Cortez, Colo., to the Permian basin, where it is used in enhanced oil recovery. An affiliate of Kinder Morgan Inc. holds 50% of the pipeline, and a 37% interest in the line is held by an affiliate of ExxonMobil Corp.
The Qatar Shipping Co. has signed a $75 million contract with the Shina Shipbuilding Co.,South Korea, to design and build two product/chemical carriers in the 35,000-45,000 dwt class by the end of 2002. Another 37,000 dwt vessel has been taken on option. The vessels will be built at Shina�s Kyongnam shipyard. Qatar Shipping is also planning to build two or three liquefied petroleum gas vessels to carry ammonia, propane, butane, and vinyl chloride monomer to support exports by the Qatar Fertilizer Co., the Qatar Vinyl Co., and the natural-gas-to liquids project.