DMC and Shell to Explore Opportunities in Alternative Energy

Dubai Maritime City (DMC) has signed an MoU with leading international energy services provider Shell to explore the diverse business options related to promoting alternative sources of energy such as Liquefied Natural Gas (LNG).

The primary focus would be on exploring opportunities that would enable the adoption of LNG as a fuel in markets including marine transportation, road transportation, power and industries in the United Arab Emirates (UAE) and the wider Middle East, North Africa and South Asia (MENASA) region.

The team from Shell including Mr Roger Bounds, Global Head of Shell, LNG and Mr Mounir Bouaziz, Vice President Commercial & New Business Development were met by His Excellency Khamis Juma Buamim Chairman Drydocks World & Maritime World. They discussed the possibility of future business opportunities as well as the ongoing cooperation between the two companies including the building of the world’s largest Turret Mooring system for the floating LNG facility at DDW’s Dubai facility.

The first step of such cooperation is to form a Joint Working Committee on the terms and conditions set out in the MoU to discuss and agree on detailed work plans to mature the business opportunity with a view to concluding a Joint Development Agreement.

Both DMC and Shell will jointly investigate and develop the business opportunity.

[mappress]

Press Release, September 17, 2013