Mubadala, Ipic launch JV for gas supplies
Abu Dhabi, March 22, 2012
Mubadala Oil & Gas, a business unit of Mubadala Development Company, and International Petroleum Investment Company (Ipic), have confirmed the launch of a joint project, Emirates LNG, aiming to secure additional gas supplies.
As the Emirates LNG project develops, it is envisaged that a specific project company will be formed by Mubadala and Ipic.
The Emirates LNG project will develop a new liquefied natural gas (LNG) regasification facility on the UAE’s east coast in Fujairah.
The project team, drawn from Mubadala and Ipic and supported by a number of expert advisors, is already firmly established and a range of work streams are well underway, a statement said. – TradeArabia News Service
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