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Taqa to invest in $1.2bn gas project
- United Arab Emirates: Wednesday, October 21 - 2009 at 15:42
Abu Dhabi National Energy Co (Taqa) said it is teaming up with a group of partners to invest 800 million euros ($1.2bn) to develop a gas storage project in the Netherlands. Taqa will fund the project along with Energie Beheer Nederland, Dyas and Petro-Canada, while Russia's Gazprom will provide cushion gas for injection into the depleted field in return for working capacity and an interest in technical ownership of the facility, it said in a statement today. Construction of the facility north of Amsterdam will start once all permits have been granted, which Taqa expected to receive in 2010.
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StaffWednesday, October 21 - 2009 at 15:42 UAE local time (GMT+4)
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