Royal Vopak has announced that it will acquire in total 44% in Elengy Terminal Pakistan Ltd (ETPL) in separate transactions with International Finance Corp. (IFC) and Engro Corp. Ltd.
ETPL's wholly owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL) owns an LNG facility which is located in Port Qasim in Pakistan, adjacent to the Engro Vopak chemical terminal on the mainland side of the channel into Port Qasim. The facility has been in operation since 2015 and is the first LNG import facility in Pakistan.
The facility consists of an LNG jetty including a 7.5 km high pressure gas pipeline. This pipeline is connected to the grid of EETPL's sole customer Sui Southern Gas Co. Ltd, a Pakistan government-owned entity. EETPL holds a 15 year floating storage and regasification unit (FSRU) time charter.
The liquified gas is supplied, under long-term contracts, via LNG carriers from various exporting countries to the FSRU, which is moored to the EETPL jetty and connected to its pipeline. The regasification takes place on the FSRU and the gas is transferred to the mainland where, under high pressure, it enters the grid of the customer.
Read the article online at: https://www.tanksterminals.com/terminals/27112018/royal-vopak-expands-share-in-pakistan-lng-infrastructure/
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