Trafigura Confirms Plans for Pakistan’s Second LNG Terminal
- Business & Finance
Commodity trading and logistics company Trafigura has confirmed plans to develop a second LNG import terminal project at Port Qasim, Pakistan.
The decision was unveiled as part of the inauguration ceremony of Pakistan GasPort’s (PGPL) new LNG floating storage and regasification import terminal at the site, which will be served by the 170,000 m3 FSRU BW Integrity.
To more than double the country’s current LNG regasification capacity, the new terminal will supply 90 million cubic feet of gas per day to private buyers in Pakistan. However, even after the new terminal reaches full capacity a significant supply shortfall of the order of 19 million tonnes of LNG per annum is expected, according to Trafigura.
The company earlier announced plans for the second import terminal, without disclosing any details. The company now informed that it would partner with PGPL in developing a new merchant FSRU through the new project.
The project will include a new jetty, berth and a second FSRU, “benefiting from cost synergies with the existing facility. It offers the potential to turbo-charge import growth and rapidly scale up industrial use of LNG in the country,” Trafigura said.