Azerbaijan, Malta to develop LNG hub

Mar 14, 2015 12:00 AM

Valletta and Baku have signed a Memorandum of Understanding (MoU) to develop LNG hub in Malta, according to Times of Malta newspaper.

The gas hub will cater to local as well international demand.

The MoU targets strategic collaboration in the oil and gas sector as part of the government’s vision to transform energy and petroleum sectors into key value added economic activities, the newspaper reported Saturday.

Azerbaijan and Malta would collaborate in areas such as exploration and production, sourcing and distributing petroleum products, and strategic collaboration in trading energy commodities in the Mediterranean region.

Both governments also agreed to explore the possibility of developing an infrastructure in energy-related projects in Malta, Times of Malta said.

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