Pakistan Takes Forward Plan for Third Import Terminal

The Economic Coordination Committee (ECC) of Pakistani cabinet July 3 approved the resolution of the Port Qasim Authority (PQA) board to allow amendment in its master plan to accommodate the prospective third LNG terminal at Port Qasim near Karachi.

Earlier this year, ECC had directed ministry of maritime affairs to expeditiously work on setting up of another LNG terminal at Port Qasim. The south Asian nation started importing LNG in 2015 with the commissioning of the Exquisite FSRU, located at Port Qasim. Pakistan commissioned its second FSRU in late 2017.

Pakistan has a long-term LNG contract with Qatar. Pakistan State Oil (PSO) and Qatargas signed in 2016 a 15-year SPA for supply of 3.76mn mt/yr at a price of 13.36% of Brent. Pakistan LNG (PLL) also has a long-term deal with Eni, which commits the Italian company to supply 0.75mn mt/yr.