Excelerate Energy LP has signed a heads of agreement with Engro Elengy Terminal Ltd (EETL) for the expansion of the EETL LNG import terminal in Port Qasim, Pakistan, Excelerate has announced. EETL is a joint venture between Engro Corp. and Royal Vopak of the Netherlands.
The move means Excelerate will exchange its existing Exquisite floating storage and regasification unit (FSRU) with a newbuild FSRU, Hull 2477. Hull 2477 is currently under construction at Daewoo Shipbuilding and Marine Engineering shipyard. This will increase EETL’s send-out capability by over 150 million standard ft3/d. In addition to this, it will also increase EETL’s LNG storage capacity from 150 900 m3 to 173 400 m3.
The EETL terminal is Pakistan’s first floating LNG import terminal. It commenced operations in March 2015 and utilises the Exquisite FSRU, delivering up to 690 million standard ft3/d of natural gas directly into Sui Southern Gas Co.’s natural gas pipeline system. The Exquisite currently fulfils as much as 15 per cent of Pakistan’s domestic daily natural gas requirements and is recognised as the most utilised FSRU worldwide. To date, EETL has imported more than 275 LNG cargos.
Excelerate says it will take delivery of Hull 2477 in April this year, and EETL projects will begin expanded operations in Pakistan before the end of 2020.
Excelerate Chief Commercial Officer, Daniel Bustos, said: “We are proud to partner with Engro and Vopak on this expansion to help meet the growing demand for natural gas in Pakistan. We continuously work with our customers to ensure our terminals adjust to the changing needs of their markets.
“In the nearly five years of essentially non-stop operations in Pakistan, we have a proven track record of safe and reliable operations at peak performance.”
In September last year, Excelerate and Maran Gas Maritime Inc. signed a five-year bareboat charter agreement for Hull 2477. According to the statement, Excelerate has the option to purchase the FSRU at any time during the duration of the contract.
For more information visit www.excelerate-group.com