Excelerate to Expand Pakistan Terminal Capacity
Excelerate Energy and Engro Elengy Terminal have signed an initial agreement for the expansion of the LNG import terminal located in Port Qasim, Pakistan, Excelerate said January 29. Engro Elengy Terminal is a joint venture between Engro Corporation and Dutch Vopak.
Under the agreement, Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at Daewoo Shipbuilding and Marine Engineering shipyard. Hull 2477 will increase the terminal’s send-out capability by more than 150mn ft3/day and increase its LNG storage capacity from 150,900 m3 to 173,400 m3. Excelerate said it will take delivery of Hull 2477 in April of this year, and expanded operations are expected to start before winter of 2020.
The terminal, Pakistan's first floating LNG import terminal, began operations in March 2015. It has been delivering up to 690mn ft3/day of regasified LNG into Sui Southern Gas Company' s natural gas pipeline system. The Exquisite currently fulfils as much as 15% of Pakistan's domestic daily natural gas requirements and is recognized as the most utilized FSRU worldwide, Excelerate said. The terminal has imported over 275 LNG cargoes to date.
In September 2019, Excelerate and Maran Gas Maritime signed a five-year bareboat charter agreement for Hull 2477. Excelerate has the option to purchase the FSRU at any time during the duration of the contract.