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First LNG cargo for new import terminal due on 24 November

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Reuters are reporting that Pakistan expects the first cargo of LNG for its new terminal to be delivered on 24 November, Prime Minister Shahid Khaqan Abbasi said on 20 November, outlining huge growth plans for Pakistan’s use of LNG.

The South Asian nation has become a hot destination for global energy giants, with producers such as Exxon and traders like Vitol seeking partners to build terminals after Abbasi re-oriented Pakistan’s energy policy towards gas.

Pakistan’s second LNG terminal in Karachi, delayed by several months, will import 4.5 million tpy of LNG and was set up by a consortium including Pakistan GasPort, BW Group, Fauji Oil Terminal and Distribution Company Limited (FOTCO), and commodities trader Trafigura.

GasPort also plan to build another LNG terminal in Pakistan, but is facing stiff competition from several other consortia battling to establish a foothold in one of the fastest-growing LNG markets in the world.

Engro Corp, which built Pakistan’s first LNG terminal in 2015, also near Karachi, is working out plans with Royal Dutch Shell, Fatima Group and trading house Gunvor for a terminal with capacity of 4.5 million tpy.

Abbasi said on top of the first two terminals already built, there are up to five others in the works.

Abbasi said that while the new GasPort terminal will plug the current gas deficit, there is huge latent demand in Pakistan, with some factories still using captive plants for power generation. Abbasi’s government also wants furnace oil plants to be converted for gas use.

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