Engro: Pakistan’s first LNG import terminal received 74 vessels last year

Engro Elengy Terminal, the operator of Pakistan’s first FSRU-based LNG import terminal, received 74 vessels at the facility in Port Qasim last year, according to co-owner Engro.

The 150,900-cbm FSRU Exquisite, owned by Qatari LNG shipping giant Nakilat and US floating player Excelerate Energy, serves the facility.

It started working at Engro Elengy Terminal, a joint venture of Engro and Dutch storage tank firm Vopak, back in 2015 and completed its 400th ship-to-ship operation in October 2021.

The terminal has the capacity for regasification of up to a peak of 690 mmscfd or some 4.8 mtpa.

“Engro Elengy Terminal (Pvt) Limited handled 74 vessels during 2022 versus 72 vessels in 2021, delivering 219 bcf of regasified LNG into the SSGC network with an availability factor of 97.6 percent,” Engro said in its yearly results report.

According to the company, the LNG terminal contributed 15 percent of Pakistan’s total gas supply during the year.

Besides Exquisite, Port Qasim also hosts FSRU BW integrity that serves Pakistan’s second FSRU-based terminal under a long-term charter deal with Pakistan GasPort.

The country imported about 6.9 million tons of LNG in 2022, compared to 8.2 million tons in 2021, according to Kpler data.

Pakistan gets most of its supplies under long-term contracts from Qatar and on the spot market.

However, last year prices surged and Europe took most of the available spot supplies.

In October last year, state-owned Pakistan LNG received no offers for a tender seeking bids for a total of 72 LNG shipments to fuel the country’s power plants. The firm did not launch any tenders since then, its website shows.

Pakistan LNG’s five-year deal with trader Gunvor for one cargo per month expired in July last year. The company also has a deal with Italy’s Eni until 2032.

Asian spot prices dropped considerably this year and the JKM LNG spot price for April is currently trading below $15/MMBtu.

A recent report by Reuters suggests that Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and would not build new gas-fired plants in the coming years due to high LNG prices.

The agency cited Pakistan’s Energy Minister Khurram Dastgir as saying that “LNG is no longer part of the long-term plan”, and that the country plans to increase domestic coal-fired power capacity to 10 gigawatts (GW) in the medium-term, from 2.31 GW currently.

Most Popular

Inpex seals first Abadi LNG SPAs

Japan's Inpex has signed the first liquefied natural gas (LNG) sales and purchase agreements for the planned Abadi LNG project in Indonesia, a spokesman for Inpex confirmed to LNG Prime on Thursday.

Orlen terminates QatarEnergy LNG supply contract

Poland’s Orlen said it had exercised its right to terminate one of the two long-term LNG supply contracts with a unit state-owned LNG giant QatarEnergy due to an ongoing force majeure resulting in an inability to meet contractual delivery obligations.

Flex inks sale and leaseback deal for LNG carrier

Norwegian LNG carrier owner Flex LNG has signed a sale and leaseback agreement with an Asian-based lease provider for its 2018-built LNG carrier Flex Enterprise.

More News Like This

Excelerate eyes LNG bunkering infrastructure

US FSRU player Excelerate Energy is interested in LNG bunkering infrastructure opportunities as the global fleet of LNG-fueled vessels continues to expand, according to CEO Steven Kobos.

Vopak moving forward with permitting process for Australian LNG import project

Dutch independent storage tank firm Vopak is moving forward with the permitting process for its planned FSRU-based LNG import facility in Australia’s Victoria state, according to CEO Dick Richelle.

Excelerate seals Bahamas LNG deal

US FSRU player Excelerate has signed an 11-year LNG supply agreement with AxDo, a joint venture between Axpo and Bahamas-based energy and maritime logistics company Domicisle LNG, supporting development of the Bahamas LNG hub.

Pakistan seeks spot LNG cargoes

State-owned Pakistan LNG has released a new tender inviting bids for two spot liquefied natural gas shipments.