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Sat 28 Jan 2017 01:12 AM

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UAE plans to build $316m LNG gas terminal in India

Abu Dhabi's National Marine Dredging Company behind plan for terminal in state of Gujarat

UAE plans to build $316m LNG gas terminal in India
A night view of the Petronas Petroleum Industry Complex in Kerteh, Terengganu, Malaysia, on Saturday, June 23, 2007. Malaysia, the worlds third-biggest exporter of liquefied natural gas, is losing market share to Qatar and Australia after domestic gas production fell for the first time in six years, stalling expansion plans. Photographer:Goh Seng Chong/Bloomberg News

The UAE is planning to build a liquefied natural gas terminal in the state of Gujarat in India.

Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan has reviewed the plan by National Marine Dredging Company (NMDC) to develop the terminal, state news agency WAM reported.

Mohamed Thani Murshed Al Rumaithi, chairman of NMDC, said the total cost of the project is expected to reach $316 million.

He said that the terminal will be completed in 2019, and will be designed and built in partnership with Indian company Swan Energy.

The Gujarat LNG terminal project is part of the company's strategy to enter the international market by taking on external projects, he added.

The project comes as the UAE and India plan to increase bilateral trade by 60 percent over the next five years.

The two countries will conduct studies to come up with action plans by the middle of 2017 to ensure the boost to trade by 2022.

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