Committed to the success of Fujairah

Committed to the success of Fujairah

Vince Cook Chief Executive Officer at National Bank of Fujairah, talks about various developments in Fujairah

Published: Fri 24 Feb 2023, 11:13 AM Last updated: Fri 24 Feb 2023, 11:15 AM

What are the most promising prospective projects in the pipeline benefiting Fujairah’s economy?

As the world’s second largest bunkering hub, Fujairah is a key transit point for crude oil and petroleum products. This has led to significant oil-related infrastructure developments, including the development of a number of mid-stream projects related to oil storage and the linking of the ADNOC Murban crude terminal to the Port of Fujairah. This link will allow Murban crude to be both stored at the port’s terminals and exported from its berths. In addition, ADNOC is building the world’s largest underground oil storage facility in Fujairah, which will add the capacity to store a further 42 million barrels. There is also the development of an LNG terminal to support the growing demand for natural gas, which is being designed to be world’s lowest carbon intensity LNG production facility.

The marine sector of Fujairah has also witnessed major progress. The Fujairah Government is currently engaged in phase one of upgrading the Port of Dibba, which is expected to be commissioned