Pakistan to Get Second FSRU by Year End
Pakistan will probably receive its second LNG import terminal by the end of 2016. On August 22, BW Group said it had signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilising a new-build FSRU for the second Pakistan LNG terminal.
BW’s FSRU, Hull No 2118, now at Samsung Heavy Industries (SHI) in Korea, will be the tanker used. The vessel has a storage capacity in excess of 170,000m³ and a peak regasification capacity of 750mn ft³/d (21mn m³/d). According to the chairman of PGPL Iqbal Z Ahmed, the project is expected to cut Pakistan’s gas deficit by 30%. The project will be commissioned by June 30, 2017, at Port Qasim, Karachi.
BW Singapore FSRU (Credit: BW Group)
Pakistan’s economy is facing a severe gas shortage which has resulted in frequent power outages, impacting industrial activity. The government has been working aggressively towards bridging the gap by exploring various supply sources with special focus on imported LNG. Earlier this year Pakistan signed its first long term LNG deal with Qatargas for 3.75mn metric tons/year, priced at 13.37% of the average of the preceding three months of the benchmark Brent crude contract.