Emirates LNG, Government of Fujairah Sign Lease Agreement (UAE)

EmiratesLNG, Government of Fujairah Sign Lease Agreement

Emirates LNG has signed a lease agreement for 260,000sqm of land from the Government of Fujairah on Thursday February 21st to accommodate its planned LNG import terminal and regasification facility.

The land is located adjacent to the ESC (Emirates SembCorp) power and desalination plant at Qidfa.

A 50:50 joint venture between Mubadala Petroleum and IPIC, EmiratesLNG will begin construction of its LNG import terminal later this year, after the necessary approval processes.

Formed as a strategic venture, aligned with Abu Dhabi’s Vision 2030, the company will provide a reliable source of clean, efficient energy to the UAE.

The Government of Fujairah will also reclaim a portion of land from the sea off the East Coast where EmiratesLNG will construct an LNG regasification terminal capable of handling the largest LNG carriers.

“This is an important milestone for EmiratesLNG,” said Ahmed Matar Al Mazrouei, CEO, EmiratesLNG. “When completed we anticipate that the EmiratesLNG facility will have the capacity to import nine million tons per annum of LNG to help fuel the growing energy demands of the UAE economy. We will continue to work closely with the Government of Fujairah throughout construction and operations and I would like to express my gratitude to the Government of the United Arab Emirates, the Government of Abu Dhabi and the Government of Fujairah for their unwavering support of this strategic UAE initiative,” he added.

EmiratesLNG’s Phase 1 is expected to be commissioned in two years’ time, and the Port of Fujairah will see a significant increase in business activity in line with LNG deliveries. The construction and subsequent operations of the terminal will also see considerable job opportunities in Fujairah.

LNG World News Staff, February 25, 2013; Image: Emirates LNG