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Dubai takes on Qatar with LNG |
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9/2/2006 8:46:53 AM |
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Dubai is planning to go head to head with Qatar as a hub for liquefied natural gas storage and trading.
The Dubai Multi Commodities Center (DMCC), Techno Park and LNG Impel will develop an estimated US $1 billio (AED3.7 billion) Liquefied Natural Gas (LNG) storage facility at Techno Park in Dubai.
The facility aims to have a total storage capacity of 1.2-1.8 billion m3, and is pegged as the first of its kind in the world, offering customers the ability to store, trade and plan supplies of LNG.
“This project is a signal achievement for DMCC’s objective to make Dubai the energy hub of the Middle East, and is in keeping with our key role as a promoter of commodity trade,” said Ahmed bin Sulayem, chief operating officer, DMCC. |
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