Qatar's state-owned energy company, Qatar Petroleum, joined an international consortium of U.S., Japanese and European energy companies to develop an LNG import project in Pakistan, the company announced on Tuesday.
Qatar Petroleum said it joined Total, Mitsubishi, ExxonMobil and Hoegh to develop a project that includes a Floating Storage and Regasification Unit (FSRU), a jetty and a pipeline to shore to provide efficient and reliable natural gas supplies to Pakistan.
The Qatari company noted that the FSRU would have a minimum regasification capacity of 750 million cubic feet of gas per day by 2018.
'Forming this consortium represents a significant milestone that complements Pakistan’s successful effort to meet the growing demand for clean-burning natural gas in this important market,' said Qatar Petroleum's CEO Saad Sherida Al-Kaabi.
Pakistan is new to LNG imports that began only in 2015. The country already has one operating LNG terminal and is in preparations for a second one.
The country signed the biggest LNG contract of all global importing countries with Qatar in the first quarter of 2016.
All of Pakistan's LNG volumes, 3.5 million tons per annum, will come from the single contract between Pakistan State Oil Company and Qatargas that was signed on Feb. 10, 2016.
Qatargas delivered its first cargo in March 2016 in accordance with the deal worth $16 billion. The company will continue to supply Pakistan over a 15-year period.
By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr