Abu Dhabi has reportedly indefinitely delayed construction of the UAE’s first land-based facility for importing liquefied natural gas in Fujairah.
Bloomberg on Wednesday reported that the plans, which were due to be completed in 2018, have been delayed in favour of a floating supply terminal.
Mubadala Petroleum and International Petroleum Investment Corporation joint venture EmiratesLNG planned to use the facility to import 9 million tonnes of gas a year, it was reported.
The joint venture which was set up in 2012 to help meet rapidly rising demand for gas in the UAE.
Bloomberg said Abu Dhabi National Oil Co will now boost the emirate’s gas purchases by hiring a floating storage vessel and regasification unit to begin importing LNG later this year.
Despite boasting the seventh largest reserves of oil and gas, Abu Dhabi is among Middle Eastern producers seeking to raise gas imports for power plants and industry.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.