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Business & Finance

Energas ready to kickoff construction of Pakistan’s third LNG terminal

  • The authority allowed Energas for the regulated activity of sale of natural gas and LNG for an initial period of 10 years, subject to fulfillment of execution of Gas Transportation Agreements with Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL).
Published January 20, 2021

Energas Terminal (Pvt) Limited, is ready to kick off construction of is all set to start construction of Pakistan’s third Liquefied Natural Gas (LNG) terminal.

The construction of the terminal which would cost $180 million will begin soon as the company is waiting to get all approvals from the regulator.

“We are ready to start construction activity at the site for LNG terminal soon,” Energas CEO Anser Ahmed Khan said, reported Arab News. The CEO informed that the company now wants to get an LNG terminal construction development license from the Oil and Gas Regulatory Authority (OGRA), which it expects to get by next month.

In a significant development, Oil and Gas Development Authority (OGRA) last week granted the first-ever marketing licences to two companies for undertaking regulated activities with regard to the sale of natural gas and LNG, reported Business Recorder.

The authority allowed Energas for the regulated activity of sale of natural gas and LNG for an initial period of 10 years, subject to fulfillment of execution of Gas Transportation Agreements with Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL).

It was learnt that M/s Energas (Pvt) Ltd submitted acceptance of Provisional Lol and a project guidelines along with partial concession fee of $ 2 million (non-refundable) each with the condition that both will pay the remaining fee of $8 million (non-refundable) upon execution of Implementation Agreement (IA) with PQA.

The CEO said that the construction of the terminal would take 12 to 15 months to complete. “When we will go online with commercial activities, the efficiency of the country in terms of capacity would increase by 50 percent and the LNG value chain will get the required breathing space as it is currently on fragile footing due to limited storage and maximum capacity utilization,” Energas CEO said.

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