Affirmed through the signing of a memorandum of understanding (MoU), the agreement will see the partners explore the potential to increase private company participation in the country’s LNG sector and enhance energy security by establishing an RLNG marketing business.
By accelerating the development of Pakistan’s RLNG sector, the partners insulate the country’s energy sector against volatile geopolitical dynamics and ensure economic growth.
Commenting on the deal, Ghias Khan, President & CEO of Engro Corporation, parent company of Engro Eximp FZE, said, “I am delighted that Engro’s collaboration with Excelerate Energy has been strengthened through this agreement, which will help Pakistan meet its energy needs.”
“As a pioneer in Pakistan’s LNG sector, we understand the importance of enhancing energy security.”
In 2015 the companies began working together through continuous operations of Pakistan’s first LNG import terminal in the form of a floating storage and regasification unit (FSRU) supplied by Excelerate.
Consider the ‘most utilised’ FSRU in the world, the terminal currently provides up to 15% of the country’s natural gas requirements.