International law firm Watson Farley & Williams acted as advisor to Credit Agricole Corporate and Investment Bank and KfW- IPEX Bank in the $191.8m post-delivery financing of BW Group’s FSRU BW Integrity.
The FSRU has a storage capacity in excess of 170,000 cubic meters and a peak regasification capacity of 750 million standard cubic feet per day and will serve Pakistan’s second LNG terminal at Port Qasim and is currently employed by PGP consortium, a subsidiary of Pakistan GasPort consortium.
The FSRU will provide 600 million cubic feet per day of regasification to state-owned Pakistan LNG Terminals under a 15-year contract.
The vessel was built by Samsung Heavy Industries shipyard in Geoje, South Korea for Singapore-based gas shipping giant BW Group.
The floating storage and regasification unit will play a vital part of Pakistan’s plan to reduce the country’s gas deficit as well as aiming to yield large savings in annual foreign exchange, enhancing the country’s growth in economy, WFW said.