KARACHI: The contract for construction of LNG terminal at Port Qasim, Karachi, has been granted to Elengy Terminal Pakistan Limited with a condition of its construction to be completed within one year of grant of its contract.
Chief Executive Officer of ETPL, Sheikh Imran ul Haq while commenting on the approval of LNG terminal construction at Port Qasim, Karachi said that it is a very positive step as project has evolved over the last seven years and it is to the credit of this government that decision has finally been taken.
“ETPL is committed to developing the terminal within the 335 day deadline so that Pakistan can begin the import of LNG as per schedule,” he added. This decision will enable the government to save around 60 billion rupees per annum in oil imports and alleviate the energy crisis plaguing the country.
In addition to this, it will have a positive impact on circular debt and is expected to reduce the weighted average electricity tariff by at least 10 per cent if LNG were to replace HFO and High Speed Diesel (HSD) in existing power generation units.
Engro applauds this landmark decision and reiterates its firm commitment to fulfill its obligations in a timely manner to facilitate energy security and accelerate the industrial development in the country, CEO added.
