Citadel Capital SAE Partners with QInvest and Other Qatari Investors in Joint Venture to Import and Regasify LNG in Egypt (MENA)

Source: Citadel Capital SAE

Middle East and Africa-focused private equity firm Citadel Capital SAE, Qatari investment bank QInvest and other Qatari investors have agreed to form a joint venture to construct and own a Floating LNG Storage and Regasification Unit (FSRU) in Egypt. The new FSRU will regasify liquid natural gas and market it to high-volume natural gas users in Egypt. QInvest and the other Qatari investors will own 51 percent of the joint venture, with Citadel owning the remaining 49 percent. Financial details of the agreement were not disclosed.