FINANCIAL NEWS

UAE’s Taqa to commence work on Dutch gas project in July

03 May 2012

(MENAFN) Abu Dhabi National Energy Co. (Taqa) announced that it will launch the work on its postponed gas project in the Netherlands in July, reported Emirates 24/7.

Taqa added that the move comes after the firm received the approval of the nation’s highest administrative court to begin operations on the Bergermeer gas project.

It also said that the project is a joint venture between the UAE firm and EBN, an independent company with the Dutch State as its only shareholder, with both firms investing over USD1.06 billion.

Moreover, the facility will be the largest accessible gas storage facility in Europe, with a working volume of 4.1 billion cubic meters.

It is worth noting that the Bergermeer project was suspended because of environmental concerns, with the Dutch administrative court asking for more tests to be executed.

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