Turkish Global Energy and PQA to sign pact for new LNG terminal Tuesday, 13.Dec.2011, 01:31 (GMT+3) The News reported that Global Energy Holding, a Turkish company is all
set to sign Implementation Agreement with Port Qasim Authority for the
construction of an LNG terminal.
The News reported that Global Energy Holding, a Turkish company is all
set to sign Implementation Agreement with Port Qasim Authority for the
construction of an LNG terminal.
Mr Muhammad Shafi chairman PQA said that all the initial work of the LNG
terminal has been completed. There would be three Floating Storage and
Re gasification Units terminals at PQA.
Mr Shafi said that PQA will sign another IA with Engro Pakistan next
week. Oil and Gas Regulatory Authority has issued three licences to set
up Liquefied Natural Gas terminals at PQA. The licenses have been issued
to Pakistan Gas Port, GEH and Engro.
He said that the government has instructed these firms to import LNG
into the country on fast track basis in a bid to overcome the energy
crisis. The government has also directed the ministries concerned to
expedite the process of LNG imports.
He added that the import of LNG and its utilization infrastructure is
expected to be completed by 2012. Global Energy and Engro Pakistan would
complete their terminals by 2012 and Pakistan Gas Port its by 2013.
Mr Shafi said that the total cost of the terminal to be built by Global
Energy would be USD 200 million. The IA would be on Build Operate and
Transfer basis for 30 year lease.
He said that PQA’s royalty would depend upon the quantity of LNG import
and it is expected to keep the royalty low so that cheap gas could be
available to consumers. A pipeline will be laid for the transportation
of gas from PQA to up country.
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