US Exim Bank Offers to Fund LNG Based Power Plants in Pakistan

US Exim Bank has expressed interest in financing the LNG based power plants at Baloki, Bhikki and Haveli Bahadar Shah in Pakistan.

The Bank has also offered multiple financing options for the consideration of government of Pakistan.

The message was conveyed by Bank’s Vice President Annette Maresh via a letter addressed to Pakistani Finance Minister Senator Mohammad Ishaq Dar, reported Associated Press of Pakistan on Saturday.

Dar has directed the relevant government departments to work out the details of the financing at the earliest. The minister last year visited the US where he met with US Exim Bank officials.  

Pakistan has been facing severe energy shortage due to inadequate supply of gas for power generation. However, in recent months the government has stepped up efforts to bridge the gas supply deficit by signing long term LNG deal with Qatar. On Thursday, China and Pakistan signed an initial agreement pertaining to construction of Gwadar-Nawabshah natural gas pipeline.

China will also build the Gwadar LNG terminal which will be connected to the Gwadar-Nawabshah natural gas pipeline.