Second LNG regasification vessel to arrive in June

Second LNG regasification vessel to arrive in June

Work on the second liquefied natural gas (LNG) floating storage and regasification unit (FSRU), which will be deployed in Pakistan, has finished and it will set sail for Karachi according to the schedule.

Constructed by Samsung Heavy Industries, the new FSRU is part of a fast-track LNG terminal being established by Pakistan GasPort Consortium Limited (PGPC) at Mazhar Point, Port Qasim.

It will provide 600 million cubic feet per day (mmcfd) of regasification facility to state-owned Pakistan LNG Terminals Limited (PLTL) under a 15-year contract at a tariff of $0.4177 per million British thermal units (mmbtu).

The FSRU, owned by the BW Group, is scheduled to arrive in Karachi in June this year. First FSRU in Pakistan was brought by Elengy Terminal Pakistan Limited, which was operating the first LNG terminal at Port Qasim.

According to a statement, the official naming ceremony for the vessel took place at Samsung office in Geoje, South Korea, on January 12. It has been named BW Integrity.

“This is an occasion of great professional achievement for the men and women who worked for years to make this complex project a reality,” commented Shahid Khaqan Abbasi, Federal Minister for Petroleum and Natural Resources, in a message read out at the ceremony.

“This FSRU will more than double Pakistan’s LNG regasification capacity to over 1,200 mmcfd. The government of Pakistan fully supports this project.”

Speaking on the occasion, BW Group CEO Carsten Mortensen said: “BW Integrity represents our commitment to providing customers with high-quality LNG shipping and regasification solutions. We look forward to a trusted, solid and strong working relationship with our friends and partners in Pakistan as we deploy this vessel for the second Pakistan LNG terminal.”

BW’s first FSRU, BW Singapore, is currently on a five-year contract, providing LNG regasification and storage services at the Port of Ain Sokhna, Egypt.

BW Integrity is a vital and essential part of our plan to reduce Pakistan’s gas deficit, provide fuel for 3,600 megawatts of brand new power-generation capacity, yield an estimated $1.5 billion in annual foreign exchange savings and visibly boost the country’s economic growth,” said Iqbal Z Ahmed, Chairman of PGPC.

Senior representatives of PGPC, PLTL, Port Qasim Authority, Samsung and Trafigura Holdings Limited, the world’s largest LNG trading company, were present at the ceremony.

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