Trafigura to Develop Second LNG Import Terminal Project in Pakistan

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Image Courtesy: BW Group

World Maritime News reported yesterday that Commodities trader Trafigura plans to develop a second liquefied natural gas (LNG) import terminal project in Pakistan, for which it would need to deploy a Floating Storage Regasification Unit (FSRU).

“We plan to develop a second LNG import, also at Port Qasim, with a jetty, berth, and a second FSRU,” a Trafigura spokesperson confirmed to World Maritime News.

Further details on the FSRU-related investment and project timeframe are yet to be disclosed. Trafigura already has a minority stake in the regasification project which uses BW Group’s Integrity FSRU in Pakistan.

In August 2016, BW signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing the new-build FSRU for the second Pakistan LNG terminal.

The FSRU was deployed to the PGPC Terminal at Port Qasim in Karachi, and is expected to more than double Pakistan’s LNG regasification capacity to over 1200 MMCFD.

Meanwhile, US-based Enterprise Products Partners has, through its operating subsidiary, Enterprise Products Operating, entered into new revolving credit facilities.

The new facilities, which will extend the maturity dates of its existing credit facilities, consist of a USD 4 billion multi-year revolving credit agreement that matures on September 13, 2022 and a USD 1.5 billion 364-day revolving credit agreement that matures on September 12, 2018.

The new facilities replace Enterprise Products Operating’s existing revolving credit facilities, and its aggregate borrowing capacity remains unchanged.

Enterprise Products Partners is a North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals.

Source: World Maritime News