YLNG: Yemen owns 1% less?
Korean ownership rises from 16% to 20%
Yemen’s ownership decreases from 23% to 21.72% (If total revenues for Yemen were estimated to be USD 10-20 billion, one percent is worth 100,000 million to 200 million dollars. )
Total owns three percent less than they reported in 2005.
Total’s press release in 2005 lists the owners of Yemen LNG. There is a difference in the ownership percentages currently being reported on YLNG ’s website.
YLNG owners——————percent owned 2005———–percent owned 2006 ————after Kongas transaction
Fwance’s Total————————————————43 %————————39.62 (also a customer)
State owned Yemen Gas————————————-23 %———————–16.73
Gen Authority for Social Security and Pensions———0%————————-5.00%
US Texas-based Hunt Oil————————————-18 %————————17.22
South Korea’s oil refiner SK Corp—————————10 %————————9.55
South Korean’s Hyundai————————————— 6 %.———————–5.88——————————–3.00
South Korea’s Kongas——————————————-0%————————-6.00 (also a customer)——-8.88
The Koreans trade among themselves: South Korea’s state-run gas monopoly Kogas is increasing its stake in Yemen LNG to 8.88% by buying additional shares from fellow South Korean giant Hyundai. The company decided to acquire half (2.9%) of Hyundai Corp?s stake in YLNG.
It looks like Yemen’s state owned share decreased about 1.25% from about 23% to 21.72%, possibly sold to Kongas. No body knows.
