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Saudis admit political problems delaying $30 billion gas deal

Special ot World Tribune.com
MIDDLE EAST NEWSLINE
Thursday, May 2, 2002

ABU DHABI Ñ Saudi Arabia has quietly acknowledged that Middle East tension has delayed a decision to launch an estimated $30 billion project to explore and develop natural gas in the kingdom.

Saudi sources said officials have cited political delays in talks with the main competitors for the project. Last week, Saudi Crown Prince Abdullah Bin Abdul Aziz and Oil Minister Ali Al Nuami met U.S. oil company representatives involved in the bidding.

"Many, many people are preoccupied in the kingdom of Saudi Arabia with matters more important than a commercial deal with companies." British Petroleum chief executive John Browne said in London. "They will take more time."

U.S. energy companies have pressed the Bush administration to respond to the Saudi eight-point plan to end the Israeli-Palestinian war. The plan includes the deployment of international forces in the West Bank and Gaza Strip.

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