Karachi, June 24 2020: Elengy Terminal Pakistan Limited (ETPL), a joint venture between, Vopak LNG Holding B.V. and Engro Corporation (“Shareholders”) intends to design, build, own and operate a multi-functional onshore Liquefied Natural Gas (LNG) storage and regasification terminal at Port Qasim, Karachi, Pakistan, Pakistan Onshore LNG (“Project”). In this regard, the Project has invited Expression of Interest from parties that intend to secure regasification, storage and other operational services (i.e. Bunkering, Trucking, Reloading) from the Project.
Subject to the final investment decision on the Project, the onshore terminal is planned to be developed under a typical industry open access business model, with a send-out capacity projected up to 1,200 million standard cubic feet per day (mmscf/d) and storage capacity of up to 480,000 cubic meters. The onshore terminal is expected to start its commercial operations from 2023.
The Expression of Interest is being sought on a non-binding basis from international and local LNG suppliers, in addition to participants from Pakistan’s domestic gas market and industry in general. Interested parties can share their applications through the Project website (PakOnshoreLNG.com).
According to Yusuf Siddiqui, the Chief Executive Officer (CEO) of ETPL, “In 2015, when Pakistan was facing a severe energy crisis, we setup the Engro Elengy Terminal (EETL) as the country’s first floating LNG import facility on a fast track basis. As an extension of our longstanding association with Vopak, we joined hands to create an even greater impact in the energy industry and create shared value for the prosperity of Pakistan. With the energy needs projected to show continued growth, we firmly believe that developing and investing in an onshore terminal is a step in the right direction to ensure flexibility of operations and provide energy security to Pakistan for the coming decades.”
Today, EETL terminal fulfills as much as 15 percent of Pakistan’s daily natural gas requirements and is recognized worldwide as the most utilized floating storage regasification unit (FSRU). EETL terminal has safely and efficiently handled over 300 LNG cargoes to date. The RLNG provided through the terminal has reduced the cost of electricity generation and, in turn, boosted productivity and economic growth across Pakistan. The EETL terminal is also undergoing an expansion by replacing the existing FSRU with a newbuild vessel, which will increase its send out capability by more than 150 mmscf/d by the end of this year.
Together with joint venture partners, Vopak LNG own and operate two onshore terminals, the Gate Terminal, located in the port of Rotterdam in the Netherlands, with an annual throughput capacity of 12 billion m3 per annum (bcma) (8.5 mtpa) and Terminal Altamira TLA, situated on the east coast of Mexico, with an annual throughput capacity of 7.4 bcma (5 mtpa). In addition, Vopak LNG are partners in the SPEC LNG terminal, situated in Colombia, which has an annual throughput capacity of 4 bcma (2.7 mtpa. Together, Vopak LNG have a combined LNG storage capacity of 1,160,000 m3 and a total throughput capacity of 29.9 bcma (20.2 mtpa).