‘Mitsubishi to build Rs47.5 bn LNG terminal in Karachi’

ISLAMABAD: Federal Minister for Maritime Affairs Ali Zaidi Tuesday said that Japanese company Mitsubishi would install fourth Liquefied Natural Gas (LNG) terminal in the country at Karachi’s Port Qasim.

Taking to Twitter, Ali Zaidi said that Mitsubishi would invest US$300 million (Rs47.52 billion) for setting up the LNG terminal at the city’s port. “After Energas, Tabeer Energy (Mitsubishi) also close to finalising their FID to set up the [fourth] LNG Terminal,” he said in his message on the micro-blogging site.

The terminal will be installed at Port Qasim and the project will be completed within two years, he said, adding that 90 LNG cargo ships could dock at the terminal at a time. The federal minister further shared that a 24-kilometer gas pipeline would also be laid for the supply of the LNG from the terminal.