Abu Dhabi’s state-owned conglomerate Mubadala plans to invest $8bn in East African upstream LNG projects to secure gas for the 1.2bn cfd import terminal it is building at the port of Fujairah. This would complement or replace any contracts it will sign for supplies that will start in 2014.
Abu Dhabi has been unable to import more gas through the 3.6bn cfd Dolphin Energy’s pipeline network to the UAE. The pipeline still has spare capacity of 1.6bn cfd. But Dolphin, in which Mubadala has a stake, cannot get an extra long-term allocation from state-owned Qatar Petroleum, which is still studying depletion rates of the North Field, and has been unable to agree on pricing for extra supplies. Abu Dhabi has also stumbled in trying to develop its non-associated gas reserves in time to meet soaring power demand. (CONTINUED - 683 WORDS)
