Citadel forms JV to import LNG to Egypt from 2013

DUBAI Thu Nov 22, 2012 2:51am EST

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DUBAI Nov 22 (Reuters) - Citadel Capital SAE has formed a joint venture with Qatari investors to import liquefied natural gas (LNG) into Egypt from mid-2013, the Egyptian private equity firm said on Thursday.

Citadel Capital said the joint venture, which will be 51 percent owned by Qatari investors and investment bank QInvest, would construct and own the facilities required to position a floating LNG storage and regasification unit (FSRU) to deliver natural gas to high-volume end-users in the north African country. (Reporting by Mirna Sleiman, editing by Daniel Fineren)

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