Islamabad (INA) - Pakistan has signed an agreement to purchase a floating storage and regasification unit for the country's second gas import terminal. Singapore's BW Group said in a statement that it will hand over the unit to Pakistan Gasport Limited in the fourth quarter of the year, and will provide regasification services to the terminal at Port Qasim in Karachi through a 15-year agreement. In addition to Egypt and Jordan, Pakistan entered the LNG import market as a newcomer in 2015, which contributed to increasing demand and absorbing the growth of global supplies from a series of new projects. The new terminal will accommodate 600 million cubic feet of natural gas per day, and is expected to start operating in mid-2017. Iqbal Ahmed, Chairman of the Board of Directors of Pakistan Gasport Limited, said: The terminal reduces the shortage of gas in Pakistan by 30 percent and provides fuel for power plants with capacity 3600 megawatts are being built in the country. Qatar, which signed two supply contracts with Pakistan this year, is the largest supplier of LNG to Pakistan. ((End)) h p
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