US-backed consortium proposes $4.4bn LNG project
• Proposal envisages four tanks holding 560,000 cubic metres at Port Qasim in first phase of the $4.4bn plan that also includes a 1,100km upcountry gas pipeline • Project would charge $4.93 per mmBtu for terminal and storage, $1.91 for transmission over first decade ISLAMABAD: A private consortium of US companies, backed by the Trump administration, is pushing for an investment of up to $4.4…
The US-backed consortium of Global Vision Energy Partners (GVEP) and Khanjee Holdings has proposed a $4.4 billion LNG project in Pakistan. The project, which includes an LNG terminal, storage facility, and 1,100km upcountry gas pipeline, would be priced at $4.93 per mmBtu for the terminal and $1.91 per mmBtu for transmission over the first decade.
The consortium, which also includes strategic co-investors from various countries, has secured consent from the Port Qasim Authority for the site and filed an application for a provisional licence with the Oil and Gas Regulatory Authority. The project is being designed as a merchant infrastructure platform to meet domestic regasification requirements and establish a storage and trading hub for US and Middle Eastern LNG suppliers in South Asia.
The first phase of the project, costing $1.7 billion, would involve the construction of four 140,000 cubic metre tanks and an annual throughput of 35 billion cubic feet. The final cost will be determined after EPC contracts and other construction and supply agreements are executed.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
