Höegh LNG secures FSRU deal in Pakistan

Höegh LNG signed a 20-year FSRU contract with Global Energy Infrastructure Limited for its LNG import project in Port Qasim near Karachi, Pakistan.

GEIL has the option to extend the 20-year charter period for another five years, the company said in its statement on Thursday.

The project is the first private LNG import terminal in Pakistan and will be located at the LNG zone in Port Qasim.

Earlier this year , GEIL signed a long-term LNG supply agreement with Qatargas.

The construction of the terminal is planned to commence early 2017 and expected start-up is second quarter of 2018. The FSRU will be provided from Höegh LNG’s portfolio of FSRUs, including units under construction, the planned conversion FSRU or from new FSRU’s on order.

Höegh LNG’s president and chief executive officer, Sveinung J. S. Støhle, said that with this contract Höegh LNG has full contract coverage for its FSRU fleet of 9 units on the water and under construction.

Commenting on the agreement, Ahmet Caliskan, GEIL’s group CEO said that in addition to the 1.3 mtpa LNG supply deal executed with Qatargas, the company is nearing the signing of an additional 3 mtpa LNG supply deal with two major suppliers.

He added that GEIL is close to signing the EPC contract for the facility.

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