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