BW Group (BW) signed a 15-year agreement with Pakistan GasPort Limited (PGPL) earlier this week to provide liquefied natural gas (LNG) regasification services utilizing a newbuild floating storage and regasification unit (FSRU) for Pakistan's second LNG terminal at Port Qasim, Karachi.
BW will deploy the FSRU, Hull No. 2118, which is currently under construction at Samsung Heavy Industries (SHI) in South Korea for this project. The FSRU, scheduled for delivery in the fourth quarter of this year, will have a storage capacity of 6 billion cubic feet (170,000 cubic meters) and a peak regasification capacity of 750 million standard cubic feet per day (MMscf/d).
"We are proud to be selected as the FSRU supplier for the Pakistan project ... we will leverage on our many years of experience to support Pakistan as they build their second LNG terminal," Yngvil Asheim, managing director of BW LNG said in the press release.
Pakistan's second LNG terminal development, which is targeted for commissioning by June 30, 2017, is expected to address the country's energy deficit.
"This landmark project will reduce Pakistan’s gas deficit by 30 percent, ensure fuel for 3,600 megawatts of new power generation plants being constructed in Pakistan to reduce power outages by 80 percent, and save some $1.5 billion in annual foreign-exchange savings," Iqbal Z. Ahmed, chairman of PGPL said.
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