Pakistan is poised to embrace a new LNG terminal as Daewoo Gas has signed an EPCF (engineering, procurement, construction and finance) contract with the Fourth Construction Company Limited (FCC) of China National Chemical Engineering Group Corporation (CNCEC) on April 21.
With a nameplate capacity of 2.5 million tons per annum (mtpa) of LNG, this project will consist of ports, storage tanks, distribution centre and regas trains in the long run.
The terminal will possibly be operated on the coast of Arabian Sea, south of Pakistan, according to Shahid Karim, CEO of Daewoo Gas.
“This terminal is for liquid sales with the adoption of Virtual Pipeline System Technique,” said Zhou Hong, General Manager of CNCEC-FCC.
Addressing the virtual signing ceremony, Karim said, “We hope that with the commencement of this project, Daewoo Gas will not only help meet the energy needs of Pakistan, but also contribute towards upgrading the natural gas industry with its innovative technology.”
Upon completion, this terminal will handle 10,000 tons of LNG per day at its peak, which will improve Pakistan’s energy supply, according to Daewoo Gas. Hong said, “Under the framework of the China-Pakistan Economic Corridor (CPEC), this project will not only effectively fill Pakistan’s energy gap, but also meet its demand for clean energy, energy conservation and emission reduction.”
“It is worth noting that the project will provide a comprehensive clean energy solution with higher efficiency, lower emissions and prices for both goods transportation and industrial power generation in Pakistan,” Hong added.
In addition, the Daewoo Gas LNG terminal project will create an estimated 2,000 to 4,000 job opportunities for locals. These include posts for management, operation, maintenance support, marketing, logistics and transportation. Hong said, “This large project represents the ideals of CPEC industrial cooperation and technology transfer between China and Pakistan, and will further strengthen the traditional China-Pakistan friendship.”
It is learnt that CNCEC has established an office at Karachi and FCC is planning to set up a branch in Pakistan in the future.
THE ARTICLE ORIGINALLY APPEARED ON THE CHINA ECONOMIC NET
Published in The Express Tribune, April 27th, 2022.
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