Pakistan to join LNG importers club soon
Excelerate Energy’s 150,900 cbm FSRU Exquisite is expected to start serving soon as Pakistan’s first LNG import terminal at Port of Qasim.
According to local media reports, the FSRU, which is currently anchored at Dubai Dry Docks, is expected to arrive at the Port of Qasim facility by March 15.
The facility will have the capacity for regasification of up to 3 million tons of LNG per year. The fuel will be supplied to the state-owned Sui Southern Gas Company’s gas distribution network via a new high-pressure pipeline.
The Asian Development Bank recently granted a $30 million project loan to Engro Elengy, the operator of Pakistan’s first LNG regasification terminal.
Along with ADB’s loan, International Finance Corporation is expected to provide $20 million and local banks another $50 million. The rest of the project financing will come from equity proceeds of $33.3 million, for a total cost of $133.3 million, including contingencies.
LNG World News Staff; Image: Excelerate Energy