Oil and gas transporter BW Group has signed a 15-year agreement to provide liquefied natural gas (LNG) regasification services utilizing a newbuild Floating Storage and Regasification Unit (FSRU) for Pakistan’s second LNG terminal at Port Qasim, Karachi.
The deal for the utilization of the FSRU, currently being built at South Korea’s Samsung Heavy Industries, was signed with Pakistan GasPort Limited (PGPL), the developer of the liquefied natural gas project.
Scheduled for delivery in the fourth quarter of 2016, the vessel has a storage capacity in excess of 170,000 m3 and a peak regasification capacity of 750 mmscfd.
The new LNG terminal is expected to reduce Pakistan’s gas deficit by 30 percent, ensure fuel for 3,600 megawatts of new power generation plants being constructed in Pakistan to reduce power outages by 80 percent, according to Pakistan GasPort.
The project will be commissioned by 30 June 2017 at Port Qasim.