A plan to import liquefied natural gas (LNG) from Qatar could do more for Dubai than just ease its electricity shortage. It could also help establish the emirate as an international LNG trading centre.
To advance that aim when the imports start two years from now, the Dubai Multi Commodities Centre (DMCC) is planning to develop a gas storage centre for the Gulf.
It could enable gas traders to take advantage of seasonal and regional trading opportunities by providing the basis for a futures market. A gas storage centre could act as the entrepot for traders to deliver physical gas and settle their futures markets positions when these contracts expire.
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