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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
