#Sharjah's SNOC puts LNG storage terminal project on hold | ZAWYA MENA Edition

Sharjah's SNOC puts LNG storage terminal project on hold | ZAWYA MENA Edition:

Sharjah National Oil Corporation (SNOC) has put on hold its floating Liquefied Natural Gas (LNG) storage terminal at Hamriyah Port in the emirate of Sharjah, the company CEO said on Tuesday.

Hatem Al Mosa confirmed during an online media roundtable that the project had been put on hold while SNOC completes the evaluation of the size of the natural gas and condensate reserves at the Mahani onshore field in Sharjah.

In January this year, SNOC and its partner Eni had announced the successful discovery of Mahani field, the first onshore Sharjah discovery in 37 years.

“We have decided to put the project on hold until we understand the size of the Mahani [discovery]… and future gas discoveries,” he said, adding that buying LNG under 10-year contracts is not right in the current scenario.