Abu Dhabi Ports Company (AD Ports) signed an agreement with Nimex Terminals valued at more than AED30 billion ($8.17 billion) to establish the UAE’s first private-sector LNG and LPG terminal hubs in Khalifa Port, the company said on Tuesday.
Under the agreements, AD Ports will invest up to AED1.3 billion to develop the required infrastructure, including dredging and jetty development, while Nimex Terminals will invest up to AED2.6 billion in advanced LNG and LPG storage tanks and related construction.
The facilities will be developed in phases over a five-year period. The LNG terminal will have a total capacity of 400,000 cubic metres, and the LPG facility will offer 280,000 cubic metres of capacity. Initial operations are expected to commence by mid-2028, primarily catering to growing demand from Asian markets.
AD Ports stated that the planned facilities will be capable of accommodating large, long-haul gas carriers.
(Reporting by Federico Maccioni, Writing by Ahmed Elimam; Editing by Kirsten Donovan)
