AGL 37.89 Decreased By ▼ -0.26 (-0.68%)
AIRLINK 124.10 Increased By ▲ 2.59 (2.13%)
BOP 5.67 Decreased By ▼ -0.18 (-3.08%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DCL 8.55 Increased By ▲ 0.15 (1.79%)
DFML 40.48 Decreased By ▼ -0.41 (-1%)
DGKC 87.10 Increased By ▲ 2.50 (2.96%)
FCCL 33.98 Increased By ▲ 1.28 (3.91%)
FFBL 66.01 Increased By ▲ 0.51 (0.78%)
FFL 10.20 Increased By ▲ 0.15 (1.49%)
HUBC 104.45 Increased By ▲ 0.65 (0.63%)
HUMNL 13.45 Increased By ▲ 0.20 (1.51%)
KEL 4.78 Increased By ▲ 0.35 (7.9%)
KOSM 6.84 Decreased By ▼ -0.25 (-3.53%)
MLCF 38.84 Increased By ▲ 1.34 (3.57%)
NBP 60.35 Increased By ▲ 0.10 (0.17%)
OGDC 179.65 Increased By ▲ 7.40 (4.3%)
PAEL 24.97 Increased By ▲ 0.17 (0.69%)
PIBTL 5.71 Increased By ▲ 0.01 (0.18%)
PPL 153.00 Increased By ▲ 11.31 (7.98%)
PRL 22.79 Increased By ▲ 0.07 (0.31%)
PTC 14.91 Increased By ▲ 0.17 (1.15%)
SEARL 66.85 Increased By ▲ 2.29 (3.55%)
TELE 7.01 Decreased By ▼ -0.13 (-1.82%)
TOMCL 35.70 Increased By ▲ 0.20 (0.56%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 13.99 Decreased By ▼ -0.21 (-1.48%)
TRG 50.95 Decreased By ▼ -0.80 (-1.55%)
UNITY 26.40 Decreased By ▼ -0.20 (-0.75%)
WTL 1.23 Increased By ▲ 0.01 (0.82%)
BR100 9,717 Increased By 233.5 (2.46%)
BR30 29,237 Increased By 866.2 (3.05%)
KSE100 90,860 Increased By 1893.1 (2.13%)
KSE30 28,458 Increased By 630.4 (2.27%)

Pakistan has launched a tender for a second liquefied natural gas (LNG) import terminal, a government official said on Tuesday. The nation of 190 million people can only supply about two-thirds of its gas needs. The ruling party, which campaigned on promises of solving the energy crisis, wants to ease shortages by expanding LNG shipments before a 2018 general election.
The official, who declined to be named, said the tender was launched earlier this month with a request for proposal (RFP) by January 24. The government wants the terminal, to be built at Port Qasim in the southern city of Karachi, to be operational by around mid-2017, the official said.
The project includes a floating storage and regasification unit (FSRU), along with the building of infrastructure such as a new jetty and pipeline. "Companies can decide if they want to bid for all of it or parts of it, but if you look at the model that was used for the first project in Pakistan, the model chosen was that one company was awarded to procure the whole project," said the source, referring to Pakistan's Engro Corp.
Elengy Terminal Pakistan Ltd, wholly-owned by Engro Corp, completed the import terminal at Bin Qasim port in less than a year - reflecting the urgency of the country's energy needs. The terminal received its first spot imports in April 2015. Large FSRUs take several years to construct and there are few players with anything available within Pakistan's time frame. Those that might include Norway's BW Gas and Hoegh LNG.
"I would expect this process to take several months before it comes to a conclusion and I'm sure there will be strong interest because the first project was a success," an LNG industry source said. "It's a challenging timeline but I think it's feasible if they make decisions in a timely manner." The official said this was a re-tender after a deal announced with state-controlled Sui Southern Gas Company ran into difficulties, declining to elaborate. Pakistan is separately finalising a deal with Qatar to import more LNG to meets its surging domestic energy needs.

Copyright Reuters, 2016

Comments

Comments are closed.