Middle East Economic Survey
NSCSA Buys Shares In LPG Shipper Petredec
The National Shipping Company of Saudi Arabia has purchased a 30.3% stake in LPG shipper Petredec for $50mn, the two firms announced on 22 February. In a joint statement, NSCSA chairman 'Abd Allah Nujaidi said: The gas trades out of the Gulf will grow significantly in the coming years. We consider our investment in Petredec to be the best route by which we can become a market leader...