Two businesses are building a $120m LNG terminal at Port Qasim in Pakistan to cater for their personal energy needs and those of their future business endeavours.
The Younus Brothers Group and the Sapphire Group are championing the Energas LNG Terminal that will have a handling capacity of 800 million cubic feet per day (mmcfd).
Chief Executive Officer, Anser Ahmed Khan is quoted in local press as saying: “This terminal will be different from others; we all business partners are buyers of the gas and no supplier is our partner.”
The terminal capacity is 4.5 million tons per annum, of which 2.1 million tons us required by the two companies which further need anticipated.
Anser added: “We are negotiating with other IPPs as well as industrialists for utilising our surplus capacity, while the government may also use the terminal for imports.”
The conglomerate has received the go ahead by the port but is still awaiting the green light from the Oil and Gas Regulatory Authority.
Work is planned to start in December and be complete by March 2019.
The terminal will provide a berth for a floating storage and regasification unit (FSRU) a floating terminal and an LNG carrier.
Younus Brothers Group’s Muhammad Ali Tabba said: “Through our group’s commitment to the development of a private LNG terminal, we hope to support the government of Pakistan’s endeavours to alleviate the existing energy crisis.”
Sapphire Group’s Shahid Abdullah said: “The company’s shareholders are progressive business groups with interest in power generation, textile, chemicals and cement amongst others.”
19th Sept 2017