ISLAMABAD, Feb 15 (DNA): During a speech at the Pakistan Energy Reform conference in Islamabad today the CEO of Engro Elengy Terminal Ltd (EETL) Jahangir Piracha announced the signature of heads of agreement (HOA) with Excelerate and with Shell for the expansion of the Elengy Terminal in Port Qasim.
The EETL terminal is a joint venture between Engro Corporation and Royal
Vopak of the Netherlands. It is Pakistan’s first floating LNG import
terminal, which began operations in March 2015 and is recognized as the
most utilized FSRU worldwide. It currently fulfils as much as 15 percent
of Pakistan’s daily natural gas requirements. EETL has handled over 280
LNG cargoes to date.
The current FSRU will be replaced by a new build vessel before the
winters of 2020, increasing EETL’s send-out capability by over 150
mmscfd.
The HOA signed gives Shell access rights to the added capacity and
enables Shell to bring in LNG imports from its global portfolio of
competitive and reliable supply to help meet Pakistan’s growing demand
for natural gas.
Speaking at the conference, Marcus Hector, General Manager of LNG Market
Development Shell, said “We believe that the supply of natural gas, the
cleanest-burning fossil fuel, can help meet Pakistan’s growing energy
needs. With this agreement, we are excited to be able to bring more
reliable LNG into the country from our leading global supply portfolio
and look forward to continued support from the government, regulator and
pipeline company to enable us to do so.”
Natural gas has a vital role to play in providing flexible, secure and
cleaner energy and LNG is a quick and flexible solution to enable
countries with declining domestic gas production to meet their energy
needs. Today, Pakistan is amongst the fastest growing LNG importers
globally, with last year’s imports increasing by over 14% to help
overcome energy shortages. DNA
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