LNG operations: First-ever LNG terminal earns $91 million revenue

Pakistan''s first-ever LNG terminal at Port Qasim has earned revenue of approximately $ 91 million from LNG operations since the inception of the first LNG terminal in March 2015. FOTCO Oil Terminal at Port Qasim handles roughly 6 to 8 million tons per annum (MTPA) of petroleum products and PQA royalty is roughly $ 4 to 5 million per annum whereas SSGC and Engro Vopak Terminal (EVTL) handles roughly 500 kt LPG per annum through which PQA earns approximately $ 2.4 million.
Port Qasim is becoming the energy hub of the country as it handles oil, LPG, LNG and coal for the energy needs of the country. Apart from the dedicated oil, LPG, LNG and coal handling terminals, Port Qasim is also becoming the power generation hub of the country with approximately 1,980 MW of coal-based power plants and approximately 1,350 MW RLNG-based power plants are at different stages of development and construction.
Sharing details of different under-development power projects, sources informed that KE is working on 900MW RLNG-based power plant, Engro is working on 450MW RLNG-based power project, 1,320MW coal-based power project is being developed by Sinohydro and Lucky Electric is working on 660 MW coal-based power plant at Port Qasim.
Sources also informed that another LNG terminal of 600 MMCFD with an investment of approximately $ 130 million is also under construction at Port Qasim and is likely to achieve commercial operations in 2017. Furthermore, multiple consortiums are working on projects to add more LNG terminals in Port Qasim and this will increase the energy footprint of this port even more.
The PQA sources informed that Engro LNG Terminal is receiving an average six LNG cargos a month which means it is re-gasifying approximately 600 MMCFD of LNG becoming the single largest source of gas in the country. In last 28 months, Pakistan has imported historic 6.1 million tons of LNG through country''s first and only LNG terminal at Port Qasim.
Ever since the induction of LNG into the country''s gas distribution network, the government has brought 2,200MW of power generation online by switching it from expensive liquid fuels. This infrastructure breakthrough has enabled the government to address the energy crisis through investment in new gas-fired power plants for additional 3,600MW power generation capacity. These power plants are under construction at Sheikhupura, Jhang and Kasur districts and will be Pakistan''s most efficient power generation units.