Pakistan issues LOI for second LNG terminal

Pakistan’s minister for petroleum and natural resources, Shahid Khaqan Abbasi reportedly said the country has firmed up intentions to award a contract for setting up the second LNG terminal at Port Qasim in Karachi. 

Abbasi said a letter of intent to develop the LNG import terminal has been signed with a consortium comprising Fauji Oil Terminal and Distribution Company (Fotco) and Pakistan GasPort.

The financial bid by the consortium has been approved by the board of Pakistan LNG Terminals, a report by a Pakistani paper, The Express Tribune shows.

The bid included setting up a terminal with the capacity to handle 600 million cubic feet of LNG per day.

According to the report, an LNG services agreement will be negotiated with the selected bidder with the project to be completed within an 11 months timeframe.

Development of the second LNG terminal has been given a green light by the National Accountability Bureau and the Public Procurement Regulatory Authority.

Additionally, Abbasi said that Pakistan, which currently imports LNG from Qatar on a 15-year deal, is looking to secure a deal with Eni of Italy for 750,000 tons of LNG per year.

LNG World News Staff