A key element of NOGA’s long-term energy strategy is to reduce its dependence on domestic gas. To implement this strategy, nogaholding is in the process of developing a liquefied natural gas (LNG) receiving terminal (Terminal) to supplement available natural gas by importing liquefied natural gas.
Newton Legal incorporated Bahrain Liquefied Natural Gas W.L.L. (BLNG) in 2015. BLNG is a joint venture between nogaholding, Teekay LNG Operating LLC, Gulf Investment Corporation and Sam Gulf Investment Limited. The joint venture is responsible for the Terminal including its development, financing, design, engineering, procurement, construction, operation and maintenance.
The Terminal is expected to give Bahrain the security of supply that it needs to: meet growth in demand for natural gas, fuel large industrial projects, generate power and water and increase oil recovery. It is expected to allow Bahrain to handle any potential shortages of gas. Additionally, the BLNG aims to bring some of the most advanced technologies in the oil and gas industry to Bahrain in the form of regasification units.