MA ministry considers private LNG terminals

By Staff Reporter
Friday – June 5, 2020
ISLAMABAD: The maritime affairs (MA) minister Syed Ali Haider Zaidi, Thursday, discussed in detail the installation of two liquefied natural gas (LNG) terminals by Tabeer Energy and Energas to open up its LNG market to the private sector.

According to an official statement, MA minister Zaidi chaired a meeting on the LNG terminals, in the federal capital, the LNG terminal operators have already submitted two million dollars each out of $10 million for allocation of land at port Qasim authority (PQA) and will attract an investment of more than $500 million in total.

In addition to the above, the terminals are being set up without any government off-take guarantee which will add a whole new dimension to the LNG market in Pakistan.

The participants praised the unprecedented pace and transparency with which the MA ministry has dealt with this project.

MA minister Zaidi ensured the resolution of any issues that may slow down the process of installation.

“The business friendly policies of the current government makes this to be the right time to invest in Pakistan. Gone are the days when such projects were installed for kickbacks. The process of establishment of these two terminals is going to set a precedent of transparency and efficiency for the future,” the minister remarked.

At the meeting the MA secretary Rizwan Ahmed, PQA chairman Nasir Hassan Shah were also present, whereas the delegates from Energas, Exxon Mobil, Tabeer energy also attended the meeting via the video link.


Ads