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November 3, 2007

ME group agrees to provide gas for LNG Terminal

 
November 3, 2007

ISLAMABAD: A Middle East Group has agreed to supply 1.5 million tonnes of gas per annum for the LNG Terminal at Port Qasim.

JJVL’s CEO, Iqbal Z. Ahmad told Geo News that it was initially intended to buy LNG from the spot market for the $160 million project, but now following this assurance of the gas supply the necessary agreement would be finalized within one month.

The Middle East Group under the agreement would supply gas for 15 years, which has the provision of further extension of the period by 10 years or enhancement in the quantum of supply.

Presently, the jetty was being made abroad and the terminal would be completed by March 2008, facilitating the handling of 3.5 million tonnes of LNG imports annually. Iqbal Z. Ahmad said that the talks with Sui Southern Gas Company (SSGC) were presently underway for the gas supply agreement.