ISLAMABAD: The US-based Excelerate Energy and Engro Elengy Terminal (EETL) have signed a Heads of Agreement (HoA) for the expansion of the EETL liquefied natural gas (LNG) import terminal located at Port Qasim.
Under the agreement, Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with Hull 2477 which is currently under construction at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard.
Hull 2477 will increase EETL’s send-out capability by more than 150 million standard cubic feet per day (mmcfd) and increase its LNG storage capacity from 150,900 cubic metres to 173,400 cubic metres.
The existing FSRU has a nameplate capacity of processing 600mmcfd of liquefied natural gas (LNG) that can peak to 690mmcfd.
As such, the nameplate capacity of the terminal would now go up to 750mmcfd that could go peak beyond 800mmcfd.
Excelerate will take delivery of Hull 2477 in April of this year and EETL projects beginning expanded operations in Pakistan before winter 2020, said a joint statement issued here by Engro Elengy Terminal.
“We are proud to partner with Engro and Vopak on this expansion to help meet the growing demand for natural gas in Pakistan. We continuously work with our customers to ensure our terminals adjust to the changing needs of their markets,” Excelerate Chief Commercial Officer Daniel Bustos said. “In the nearly five years of essentially non-stop operations in Pakistan, we have a proven track record of safe and reliable operations at peak performance.”
CEO of EETL Jahangir Piracha said the Excelerate Energy had been an excellent partner who has made it possible for EETL to cater to such a high level of utilisation of regasification capacity. “It is our trust in their operational excellence that we are now jointly undertaking the expansion of our terminal”, he said.
The EETL terminal, Pakistan’s first floating LNG import terminal, began operations in March 2015. The terminal, which utilises Excelerate’s FSRU Exquisite, has been delivering up to 690mmcfd of natural gas directly into Sui Southern Gas Company’ s natural gas pipeline system.
The Exquisite currently fulfills as much as 15 per cent of Pakistan’s domestic daily natural gas requirements and is recognised as the most utilised FSRU worldwide. EETL has handled over 275 LNG cargoes to date.
In September 2019, Excelerate and Maran Gas Maritime Inc. (MGM) signed a five-year bareboat charter agreement for Hull 2477. Excelerate has the option to purchase the FSRU at any time during the duration of the contract.
Published in Dawn, January 31st, 2020