EmiratesLNG will build and operate the Middle East's first land based liquefied natural gas (LNG) re-gasification facility at Fujairah following government approval for the project, the company has announced.
EmiratesLNG, a joint venture between International Petroleum Investment Company (IPIC) and Mubadala Petroleum, said it would push ahead with the project after Abu Dhabi Executive Council decided to approve the project.
EmiratesLNG’s regasification terminal will have an average throughput capacity of 1.2 billion standard cubic feet of natural gas per day.
The terminal will be able to accommodate the largest LNG carriers with the ability to access competitively priced LNG from any source around the world, the company said in a statement.
"This iconic development will give EmiratesLNG access to global gas markets thereby strengthening supply and adding extensive economic value to the UAE by creating potential business developments and opportunities as well as jobs for the UAE," it added.
Ahmed Matar Al Mazrouei, CEO, EmiratesLNG, said: “EmiratesLNG will seize this opportunity to establish itself as a key player in the Middle East within the global LNG market.
"The establishment of EmiratesLNG and its operation in the years to come is a significant contribution to the delivery of sustainable, secure, clean gas, helping ensure a prosperous future for the UAE.
“With support and co-operation from our stakeholders, we look forward to serving our customers when we commence operation of the largest LNG re-gasification facility in the region."For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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.