ISLAMABAD: Daewoo Gas has signed a master Engineering Procurement Construction and Finance (EPCF) contract with China National Chemical Engineering Construction Company (CNCEC) on Friday for setting up of an offshore LNG terminal near Karachi at an estimated investment of about $300 million.

A Daewoo Gas statement said the contract was signed at a virtual ceremony. Under the contract, CNCEC would design, construct and finance an offshore LNG terminal complete with topside equipment to enable LNG filling into ISO containers for use in Pakistan.

The specialised LNG containers will be moved by truck all over Pakistan where LNG will be re-gasified at client sites. At its peak, Daewoo Gas’ terminal will handle 10,000 tonnes of LNG per day and improve Pakistan’s energy supply, create thousands of jobs nationally, and reduce carbon emissions, the statement said.

The total foreign investment in this project including the terminal, facilities, LNG logistics and supply infrastructure is estimated at $300m. The project envisages transporting liquefied natural gas (LNG) on trucks and bowsers loaded with ISO tanks rather than through the pipeline system.

Published in Dawn, April 23rd, 2022