Qatar Petroleum (QP) is looking to further cement its position in Pakistan’s growing LNG market with plans to develop a floating storage and regasification unit (FSRU) in a JV with Total, ExxonMobil, Mitsubishi and Norwegian shipping firm Höegh. Scheduled to come online in 2018, the FSRU would be Pakistan’s fifth and the fourth to be moored in Karachi’s Port Qasim. A final investment decision is expected in mid-2017.
Pakistan is grappling to plug a growing gas deficit to meet rocketing gas-to-power demand. The JV will operate the 750mn cfd FSRU (5.6mn tons/year) – to be developed with Istanbul-based Global Energy Infrastructure Limited (GEIL) – and construct a new jetty and a pipeline to connect onshore infrastructure. GEIL would ink separate sales and purchase agreements with each partner. (CONTINUED - 869 WORDS)