Trafigura Plans to Develop Another FSRU in Pakistan [Correction]
(Corrects corporate structure, para 2)
Trading company Trafigura has announced its intention to build another floating storage and regasification unit (FSRU) at Port Qasim in Pakistan in partnership with Pakistan GasPort (PGP) , it said November 20 after the inauguration of Pakistan’s second FSRU by the prime minister Shahid Khaqan Abbasi.
The proposed FSRU that Trafigura and PGP plan to develop will sell gas to private sector end-users without direct government involvement. The project will include a new jetty and berth. There were no details on the size of the stakes or the presence of other partners. The first FSRU was led by PGP, Trafigura having a minority stake.
The inauguration of Pakistan’s second terminal will more than double its current LNG regasification capacity, enabling it to supply 90mn ft3/d to private buyers in Pakistan. According to Trafigura, even after the new terminal reaches full capacity, there will still be a significant supply shortfall of some 19mn mt/yr. Thus, more import infrastructure is needed in Pakistan.
With demand for energy rising in Pakistan, Trafigura is looking to further expand in the country. The company has 49.6% share in Puma Energy, which acquired a 51% interest in Ardmore Gas, a leading independent oil marketing company in Pakistan.