August 22, 2006	Tuesday	Rajab 26, 1427

DUBAI, Aug 21: Dubai has teamed up with LNG Impel, a subsidiary of the Canadian firm Galveston LNG, to develop a $1 billion liquefied natural gas storage facility, a statement from the Gulf emirate said on Monday.

“Envisioned as a massive infrastructure facility, Dubai LNG Storage Hub will be the first of its kind in the world and is expected to have a total storage capacity ranging from 40-65 billion cubic feet,” the statement said.

LNG Impel and the Dubai Multi Commodities Centre (DMCC) had signed a memorandum of understanding in June.—AFP