ISLAMABAD: The Sui Southern Gas Company’s (SSGC) Board of Directors has approved a proposal about the issuance of Standby Letter of Credit (SBLC) of $50 million in favour of Elengy Terminal Pakistan Limited (ETPL) to cover six months of capacity charges with majority vote.
The board held a meeting in Islamabad the other day to approve the proposal to facilitate ETPL which is constructing an LNG terminal with cost of 150 million dollar and wwould receive $100 million per annum as capacity charges even if in case of no LNG supply. It is pertinent to mention here Economic Co-ordination Committee (ECC) of the cabinet headed by Finance Minister Ishaq Dar had approved the LNG services agreement between SSGC and ETPL.
