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New $3 bn LNG project ready for Gwadar

ISLAMABAD: Another fast-track three billion dollars mega project, an LNG terminal at Gwadar and a pipeline to Nawabshah, is being launched by the Nawaz Sharif government with Chinese collaboration.

In a major strategic move, the Ministry of Petroleum and Natural Resources (MoPNR) has decided to build the LNG terminal and pipeline through a Government-to-Government (G2G ) arrangement with China. Experts say this would mean that the project will not be advertised for open international bidding.

“We are running from pillar to post to get this mega LNG terminal-cum-pipeline included in the list of early harvest projects agreed with China and once it is included, it will take three to four years to get commissioned,” Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi told The News.

“We have already sensitised the prime minister about the proposed LNG project at Gwadar and hope to get this project in early harvest projects list.”China has promised to provide $35 billion in projects relating to the economic corridor and energy related projects and this new project will also be funded through the same scheme.

Two Chinese companies have already shown interest in building the LNG terminal at Gwadar and lay down the pipeline. The pipeline will require $1 billion and over $2 billion will be needed to construct the terminal with LNG handling and re-gasification facilities and to erect large LNG storages facilities.

via New $3 bn LNG project ready for Gwadar – thenews.com.pk.

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