The terminal, to be located at Port Qasim in Karachi, where Pakistan’s first LNG import terminal is situated, will include a floating storage regasification unit (FSRU). The trading house has a minority stake in the Pakistan GasPort project which will utilise the FSRU ‘BW Integrity’ at Port Qasim.
At an inauguration ceremony for Pakistan GasPort Ltd (PGPL) in Karachi, the trader said that it would add a jetty, berth and a second FSRU to the existing facility.
To more than double the country’s current LNG regasification capacity, the new terminal will supply 90 million cubic feet of gas per day to private buyers in Pakistan. However, even after the new terminal reaches full capacity, a supply shortfall of the order of 19 million tonnes of LNG per annum is expected.
In February this year, the Swiss commodity trader revealed plans to reopen the UK’s Teeside LNG import facility, which was shut in 2015. The company is investing about USD 30 million in the LNG import terminal and aims to start operations by the middle of 2018.