Pakistan GasPort Consortium Limited (PGPC), a wholly owned subsidiary of Pakistan GasPort Limited (PGPL), is establishing the country’s second LNG import terminal.
This landmark Project will reduce Pakistan’s gas deficit by 30 percent, provide fuel for 3,600 megawatts of new power generation plants being set up in the Punjab, and yield an estimated $1.5 billion in annual foreign-exchange savings.
The Project will be commissioned mid-2017.
PGPC shall provide storage and regas services to Pakistan LNG Terminals Limited (PLTL), a wholly owned subsidiary of Government Holdings (Private) Limited, for 15 years at a levelized service charge of $0.4177 per mmbtu, and 95-percent availability, on a take-or-pay basis.
BW Group is providing a new-build Floating Service and Regasification Unit (FSRU) under charter to the Project pursuant to the FSRU Lease Agreement between PGPC and BW Gas Limited and the FSRU Operation Services Agreement between PGPC and BW Fleet Management AS. The state-of-the-art vessel, Hull No. 2118 and currently at Samsung Heavy Industries in South Korea, has a low environmental footprint, high efficiency, storage capacity in excess of 170,000m3 and peak regasification capacity of 750mmscfd.
A consortium comprising Xinjiang Petroleum Engineering Company Limited (XPE), CCCC Third Harbor Consultants Company Limited and CCCC Third Harbor Engineering Company Limited is providing Engineering, Procurement, Supply, Dredging and Construction services to the Project, and COWI Gulf A/S is the Owner’s Engineer.
PGPC has commissioned and completed requisite studies and surveys for the timely completion of the Project, whose environment protection regime and social action plan for community involvement and training is in accordance with World Bank guidelines.