Total (Project Technical Leader - 39.62%)
With operations in more than 130 countries, Total engages in all aspects of the petroleum industry, including Upstream operations (oil and gas exploration, development and production, LNG) and Downstream operations (refining, marketing and the trading and shipping of crude oil and petroleum products).
Total also produces base chemicals (petrochemicals and fertilizers) and specialty chemicals for the industrial and consumer markets (rubber processing, adhesives, resins and electroplating). In addition, Total has interests in the coal mining and power generation sectors. Total is helping to secure the future of energy by progressively expanding its energy offerings and developing complementary next generation energy activities (solar, biomass, nuclear).
Hunt Oil is one of the world’s largest privately held independent oil and gas companies, with a strong domestic and international presence. Hunt’s 1984 oil and gas discovery in Yemen has generated over 1 billion barrels of oil exports to date. The hydrocarbon reserves discovered by Hunt contain sufficient quantities of natural gas to underpin the Yemen LNG project. Some US$2 billion have been invested in drilling wells and developing infrastructure to produce, process and export the reserves.
Yemen Gas Company (YGC)(16.73%)
YGC was created in 1993 as General Gas Corporation and re-organised in 1996 as Yemen Gas Company. Its role is to promote gas utilisation in Yemen, thereby contributing to the country’s industrial development and economic growth. Its activities span the entire gas chain, from exploration and production to transportation and marketing. YGC is also responsible for bulk distribution of Liquefied Petroleum Gas (LPG) to meet fast-growing domestic demand. YGC is fully committed to the successful development of the Yemen LNG project, the largest industrial venture ever undertaken in Yemen.
SK Innovation Co., Ltd. (9.55%)
SK Innovation Co., Ltd. participated in Yemen LNG as the leader of Korean consortium comprising SK Innovation Co., Ltd., Samwhan Corporation and Korea National Oil Corporation. The Korean consortium also has 24.5% of the exploration and production interests in the Marib fields in Yemen, which came on stream in 1987. SK Innovation Co., Ltd. is Korea’s largest integrated energy and chemical company. SK is active across the gas chain, from the wellhead to the burner tip. Upstream, it is a partner in the Peru, Oman and Qatar RasGas LNG projects. Downstream, its subsidiary SK Shipping operates six LNG carriers. It is also engaged in domestic city gas distribution and combined cycle power generation through its subsidiaries. Samwhan is one of the leading construction companies in Korea and has been an active player in the Middle East, South East Asia and all other major construction markets around the world. Korea National Oil Corporation is a state-owned company founded to stabilise the energy supply to Korea and a leading exploration and production company in Korea.
Korea Gas Corporation (Kogas) (6.00%)
Korea Gas Corporation (known as Kogas) is the world’s largest LNG importer. Kogas operates three LNG terminals and a nationwide pipeline network in Korea and imports 2 Mtpa of LNG from Yemen LNG for 20 years. As a partner in Oman LNG and Ras Laffan LNG, Kogas has proved its capability and reliability in the upstream business, and is actively expanding its business in overseas LNG projects using its accumulated expertise in the global LNG industry to pursue its goal of becoming a world-class integrated energy company.
Hyundai Corporation (5.88%)
Hyundai, a member of the Hyundai Group of companies, holds 5.88% of Yemen LNG's shares. Founded in 1976, Hyundai is Korea's leading general trading house with activities in petroleum, petrochemicals, energy and resource development. Hyundai has been active in the exploitation of crude oil and natural gas since its first participation in Yemen's Marib oil field in 1984 with a 2.45% interest. The company entered the LNG business in the early 1990s with the construction of an LNG carrier and ownership in the Oman and Qatar Ras Laffan LNG projects. Hyundai is now focusing on further expanding its business opportunities across the LNG chain.
The General Authority for Social Security & Pensions (GASSP) (5.00%)
GASSP, which was established in 1980, is the most significant social security organisation in the Republic of Yemen. It covers civil servants who have been permanent employees of the Government providing benefits for old-age, death, disability, and work-related injuries to all governmental organisations, public and “mixed” sectors employees. GASSP operates from 22 branches across the Republic employing more than 900 employees. Most of its portfolio investment comprises domestic Treasury-Bills and deposits in US$ at the Central Bank of Yemen with smaller sums invested in real estate, direct investment and loans to beneficiaries.