State-owned Sharjah National Oil Company (SNOC) has said it is moving ahead with implementing its planned floating liquefied natural gas (LNG) terminal project in the emirate.
SNOC signed an agreement in December 2017 with German energy firm Uniper to set up the project in waters off Sharjah’s Hamriyah port. SNOC is to have 100 per cent ownership of the venture, while Uniper is mandated to play an advisory and supporting role.
SNOC has issued a statement to assure the market that it "is continuing its plans to implement the Sharjah LNG Project as a strategic project to assure the provision of a timely, reliable supply of gas to meet the emirate of Sharjah’s future energy demand".
MEED has previously reported on the estimated $800m project and the delays it has faced. According to the initial schedule, the project was to be commissioned in 2021. In March, MEED reported that contractors that had submitted bids for the engineering, procurement and construction works for the project in August 2018 were still waiting to hear from the client.
The bidders include:
- National Petroleum Construction Company (UAE)
- Sapura Energy (Malaysia)
- STFA Group (Turkey)
- Valentine Maritime (UAE)
- Archirodon (Greece)
- Royal Boskalis Westminster (The Netherlands)
Sources have said that the joint venture of SNOC and Uniper was reportedly facing financial issues with the project, preventing it from proceeding.
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