The News reported that the Sui Southern Gas Company seeks to import 400 million cubic feet per day re gasified liquefied natural gas under integrated project structure on a fast track basis.

Mr Azim Siddiqui MD of the gas utility said that in the Phase I the company would import LNG on a fast track basis and they are seeking developers and investors for the purpose. Preference would be given to the party that could bring the fuel the earliest.

Mr Siddiqui said that the broad scope of services would comprise supply of re gasified LNG to the gas utility at the specified tie in point including LNG procurement, transportation, developing terminal facilities, storage and re gasification of LNG and operating the terminal with a target to commence imports as early as possible under a firm off take gas sales agreement of 15 years.

He said that the gas sales agreement would be duly backed by sovereign guarantee of the government of Pakistan with a likely additional back up through a partial risk agreement from multilateral development bank. The government wants to secure long-term energy supply for the country to sustain economic growth. Pakistan requires an adequate supply of competitive energy to be made available to industrial and commercial customers.

Source – The News.com

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