Exclusive Trading

Financial In Market A consortium led by Mitsubishi, the Japanese trading company, is preparing to bid for a gas development project in Iraq.

(AXcess News) Chevron Corp. ( CVX) hopes to bid for up to 25 percent of Russia's huge Shtokman gas project being developed by Gazpromand is one of five majorshoping to get on the hugenatural gas project. The newslifted Chevron'sstock $0.76, or 1.35 percent, to $57.24 Wednesday. Russia' strewn Barents Sea where Chevron and other energy majors hope win bids to partner with Gazprom in developing the field to produce liquefied natural gas for sale in the United States.

Oriental Trading The consortium is made up of nine Japanese trading and plant engineering companies and KBR, the engineering and construction subsidiary of Halliburton, the US energy services group formerly led by US vice-president Dick Cheney.

The contract was won by a consortium comprising Kellogg, Technip of France, Italy's ENI and Japan Gasoline.

Financial Forex Forex Software They plan to bid for the development of gas fields in western Iraq, according to a person familiar with Japan's involvement in the country.

Project Amphora is run by the Consortium, twelve of the planet's most influential movers and shakers.

Trading The project is said to encompass the Akkra field, a large and relatively unexploited field, which holds about 7,500bn cubic feet of gas and whose closest export markets would be Saudi Arabia and Jordan.

An international energy consortium has signed a formal agreement to build an experimental nuclear fusion reactor which aims to produce clean and limitless energy from nuclear reactions like those that fuel the sun. It is the biggest and most expensive scientific experiment since the space station. euro project, which will be based in France, hopes to produce electricity on the grid within 30 years. or “on the way” the project involves the EU, South Korea Russia, China, the US India and Japan.

Trading Financial System The Japanese consortium is understood to have signed a memorandum of understanding with Thamir Ghadhban, the former chief executive of Iraq's oil ministry, in late July, indicating their shared interest in pursuing the project.

Japan has been a big advocate of the campaign against global warming and is the home of the Kyoto Protocol, the first treaty mandating cuts in greenhouse emissions. With Japan's recent economic boom, many businesses there are unable to meet the mandate of the treaty that requires them to cut green house gas emissions six percent by by 2012 from the 1990 level. Japan's investment in the ethanol project is expected to boost the economy of Okinawa substantially, which has the highest unemployment rate in the country and is heavily reliant on tourism and US military bases.

Day Trading The deal is difficult to value because Iraq's terms for gas are relatively unknown. But it could be worth billions of dollars over the lifetime of the field, netting the successful international companies hundreds of millions of dollars, depending on the terms, analysts said.

Forex Financial Trading The The field was "a long way from major development", said Martin Purvis, analyst at Wood Mackenzie, the Edinburgh-based consultant. He added that it would be at least 18 months before the first gas would flow.

Fortune Make Option Trading In addition, the deal might first have to be sanctioned by a legitimate Iraqi government, for which the development of some key oil fields could be a higher priority, industry executives said.

Science Of Financial Market The field is not the most obvious choice to supply Japan, and industry insiders believe at least part of the interest is Japan's wish to "get a foot in the door".

Future Trading Tokyo is the largest donor of financial assistance to Baghdad after Washington and plans to send troops to Iraq to help in reconstruction and humanitarian work.

Financial Sales Services While the financial donation has had public backing, sending troops has stirred controversy because of Japan's pacifist constitution.

Commodity Trading A successful bid may encourage other Japanese companies to compete for contracts in Iraq and ease their concern that the prime deals are handed to US companies. It would also be one of the first indications of Japanese companies seeing the commercial rewards of their government's backing for the war.

Financial Services Trading The person familiar with Japan's dealings with Iraq said the consortium was in a strong position to win the bid because of the interest Japanese companies had shown in developing gas fields in Iraq in the 1980s while European companies had focused on oil.

Online Forex Trading The consortium may win some financing for the project through the $5bn (4bn, 2.8bn) the Japanese government has pledged for reconstruction and humanitarian work in Iraq over four years. The $5bn is spread over a four-year period starting in 2004 and includes $1.5bn in grants.

Financial Portfolio Trade Mitsubishi is Japan's largest trading company. Included in the consortium are fellow trading houses Mitsui, Marubeni, Itochu and Tomen. The other Japanese companies involved are plant engineering groups Chiyoda, JGC and Toyo, and Mitsubishi Heavy Industries.

Sierra Trading Post Japanese companies are understood to be considering more than a dozen projects in Iraq, including supplying equipment to a hydro power station in Mosul and providing hospital beds.

[ Comment, Edit or Article Submission ]