Mubadala Development and International Petroleum Investment plan to set up an LNG offshore terminal (Floating Storage and Regasification Unit, FSRU) in Fujairah. It would be developed in two phases, each having a capacity of 600 Mcf/d (6.2 bcm/year) and the first one could be operational as of 2014.
Middle Eastern oil producers such as Saudi Arabia and the U.A.E. need additional gas supplies to make electricity and petrochemicals and as fuel for energy- intensive industries such as smelters. Aside from Qatar and Iran, these nations have limited gas reserves of their own.
The U.A.E, holder of about 7% of global oil reserves, already imports gas from Qatar through the Dolphin Gas pipeline, a venture with Total and Occidental Petroleum . The pipeline operates at around 2/3 of capacity because the U.A.E. has been unable to buy additional fuel from Qatar, which has committed its available supplies to other buyers.
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