US-based Excelerate Energy has won a contract to build a liquefied natural gas (LNG) import terminal in the UAE, sources close to the deal have said
The value of the contract has not yet been revealed, Reuters reported.
Emirates LNG, a joint venture between Abu Dhabi’s Mubadala Petroleum and International Petroleum Investment Company (IPIC), chose Excelerate Energy over Norway’s Golar LNG.
The contract was awarded to Excelerate Energy in December 2012, a source added.
The facility at Fujairah, which lies on the east coast of the UAE outside the Strait of Hormuz, is expected to have an annual import capacity of 25.4mn cubic metres of LNG, Emirates LNG officials said.
The terminal will be built next to a power and desalination plant at the industrial and oil storage centre.
The UAE has been exporting LNG to Gulf countries since the late 1970s but its own rapidly rising demand and slow production growth has made the Organisation of the Petroleum Exporting Countries (OPEC) member a net importer of gas over the last few years.
