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World's first LNG contract in Dubai
- United Arab Emirates: Sunday, November 25 - 2007 at 06:29
The Dubai Multi Commodities Centre (DMCC) is planning to launch a liquified natural gas (LNG) futures contract on its exchange soon, reported Reuters. An LNG contract could help revitalize spot trade in the product, which is now sold primarily on the basis of long term contracts. DMCC and LNG Impel, are setting up a 40 to 65 billion cubic feet LNG storage facility at a cost of about $2bn to offer customers the ability to store and trade the product.
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Amena Bakr, Senior ReporterSunday, November 25 - 2007 at 06:29 UAE local time (GMT+4)
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