Excelerate's Second FSRU on its Way to Pakistan
Excelerate Energy will deliver its second floating storage and regasification unit (FSRU) to Pakistan following negotiations with a consortium comprising Engro, Fatima, and Shell. It is expected to be the country's 4th such floating terminal.
The FSRU will be based at Port Qasim where Excelerate has had an FSRU, Exquisite, operating since March 2015 chartered to Engro-owned Elengy.
“Following negotiations with the consortium of Engro, Fatima, and Shell over the last few months, Excelerate Energy is prepared to help the consortium deliver a proposed floating LNG terminal and second FSRU to the Pakistan market. The fast-track FSRU project will supply much needed natural gas to Pakistan to help mitigate the supply shortfalls the country is currently facing,” Excelerate said January 31.
When the project comes on line in 2018, the total regasification capacity from Excelerate's two FSRUs at Port Qasim will be over 1bn ft3/d which, according to Excelerate, is enough natural gas to support over 6,000 MW of power generation.
This would the third FSRU deal in Pakistan in the past year. Another FSRU, to be chartered out by shipowner BW Gas to Pakistan GasPort Ltd is to be commissioned by June 2017. Hoegh LNG signed a contract December 15 with Pakistan’s Global Energy Infrastructure Limited (GEIL) for its LNG import project. The BW and Hoegh floating units will also be located at Port Qasim.
As Pakistan's LNG imports rise, the government wants more terminals developed at Port Qasim and at another port, Gwadar.
Excelerate said it recently commissioned an FSRU in the United Arab Emirates for local firm Gasco at Ruwais in less than 12 months.