Höegh LNG Nabs FSRU Charter Deal in Pakistan

Image Courtesy: Höegh LNG

Floating energy solutions provider Höegh LNG has signed a long-term Floating Storage Regasification Unit (FSRU) contract with Global Energy Infrastructure Limited (GEIL) for the liquefied natural gas (LNG) import project in Port Qasim near Karachi, Pakistan.

The charter is for a period of 20 years with two five year extension options for charterer and is expected to generate an average annual EBITDA of around USD 36 million. The contract is subject to both parties’ board approval.

The project is the first private LNG import terminal in Pakistan and will be located at the LNG zone in Port Qasim. Back in September, GEIL signed a long-term LNG supply agreement with Qatargas.

“In addition to this major milestone, we have already executed a 1.3 MTPA for 20 years LNG supply with Qatargas. Furthermore, we are near signing an additional 3 MPTA of LNG supply with two major LNG producers as well as nearing to sign the EPC contract for the facility,” GEIL’s Group CEO Ahmet Caliskan said.

The construction of the terminal is planned to commence early 2017 and expected start-up is second quarter of 2018.

The FSRU will be provided from Höegh LNG’s portfolio of FSRUs, including units under construction, the planned conversion FSRU or from new FSRU’s on order.

”With this contract we have full contract coverage for our FSRU fleet of 9 units on the water and under construction,” Höegh LNG’s President and Chief Executive Officer, Sveinung J. S. Støhle, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >