Elengy Terminal Pakistan Limited (ETPL), a joint venture between Vopak LNG Holding BV and Engro Corporation, has planned to set up the first onshore liquefied natural gas (LNG) storage and regasification terminal at Port Qasim, Karachi.
In this regard, the project management has invited expressions of interest from interested parties, which intend to secure regasification, storage and other operational services (ie bunkering, trucking and reloading) for the project.
Subject to final investment decision on the project, the onshore terminal is planned to be developed under a typical industry open access business model, with projected send-out capacity of up to 1,200 million standard cubic feet per day and storage capacity of up to 480,000 cubic metres. The onshore terminal is expected to start commercial operations in 2023. Expressions of interest have been sought on a non-binding basis from international and domestic LNG suppliers, in addition to participants of Pakistan’s gas market and the industry in general.
ETPL Chief Executive Officer Yusuf Siddiqui said, “In 2015, when Pakistan was facing a severe energy crisis, we set up Engro Elengy Terminal Limited (EETL) as the country’s first floating LNG import facility on a fast-track basis.”
The EETL terminal meets 15% of Pakistan’s daily natural gas requirement and is recognised worldwide as the most utilised floating storage and regasification unit (FSRU).
The regasified LNG, provided through the terminal, has reduced the cost of electricity generation by 40%.
