Engro Corporation has initiated talks with Vopak LNG Holding for the sale of a minority stake in its Karachi-based LNG import terminal. The sale would be subject to the parties entering into definitive agreements and obtaining required board, shareholder and regulatory approvals.
“Engro Corporation Limited has entered into discussions with Vopak LNG Holding BV with respect to Vopak LNG Holding BV (itself or through its associated entity) acquiring a minority stake in Engro’s LNG infrastructure in Karachi,” Corporation General Counsel and Company Secretary Faiz Chapra said in a notification to the Pakistan Stock Exchange (PSX).
Engro Terminal Limited established the country’s first Regasified Liquefied Natural Gas (RLNG) import terminal at Port Qasim, Karachi and has an installed capacity to inject 600 million cubic feet per day.
For more information, visit: www.engro.com
3rd July 2018