Canada Global (Web News) A consortium consisting of two companies from the United Arab Emirates (UAE) and China has expressed interest in investing up to $500 million to build two LNG projects in Pakistan.
Oil and Gas Regulatory Authority (OGRA) sources said that the consortium investors have started discussions with the Pakistani authorities regarding investment in LNG terminals, supply and import, virtual and non-virtual projects of LNG.
According to sources, a consortium of foreign companies wants to set up a virtual LNG project at Kemari and a non-virtual LNG project at Port Qasim. The consortium holds licenses for both virtual and non-virtual LNG projects. Virtual LNG projects use virtual trucks instead of pipelines to transport LNG, sources said.
The consortium also wants to set up an LNG project at Port Qasim. According to sources, they are interested in laying their own distribution system instead of relying on Sui Southern or Northern to deliver gas from the project to consumers. The consortium consists of United Arab Emirates company Bison and China National Chemical and Engineering Company. No government guarantee or capacity payment is contemplated in these projects.
