Abu Dhabi government-controlled investment firm Mubadala Development Co. plans to build a facility to import liquefied natural gas in Fujairah, as it seeks to meet growing energy demand in the United Arab Emirates.
Abu Dhabi
government-controlled investment firm Mubadala Development Co. plans to build a
facility to import liquefied natural gas in
Fujairah
, as
it seeks to meet growing energy demand in the
United
Arab Emirates
.
Mubadala's oil and gas unit is working on a project with the aim of securing
additional gas supplies to meet U.A.E. energy demand through the development of
an LNG receiving facility located in Fujairah, the company said in an emailed
statement Tuesday.
The emirates of Abu Dhabi and Fujairah are part of the seven-member U.A.E.
"The project feasibility study was completed last year and the project engineering
phase has now commenced with the aim of delivering first supplies in the next
2-3 years," the statement added.
It wasn't clear where the LNG would be imported from and U.A.E. officials
weren't immediately available for comment.
The project could be an attempt by the U.A.E. to avoid using the strategic
Strait
of Hormuz
for LNG imports after
Iran
threatened to close the waterway--through which
Persian
Gulf
producers export around one-fifth of the world's oil supplies.
The West has ratcheted up pressure on
Iran
to
abandon its controversial nuclear program amid growing concern that the country
is trying to develop nuclear weapons.
Iran
has
said that its nuclear program is for peaceful means.
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