A consortium of US-based companies has expressed interest in investing up to $4.4 billion (€3.9 billion) in an LNG infrastructure project in Pakistan.
The project will involve companies including Global Vision Energy Partners, Khanjee Holdings, General Mediterranean Holding, and other international strategic partners. Local reports indicate that the US-backed sponsors have obtained consent from the Port Qasim Authority and applied to the Oil and Gas Regulatory Authority for a provisional licence.
The first phase of project will develop an LNG import terminal and storage complex with four tanks, offering 140,000 m3 of storage each (560,000 m3 in total) and costing $1.7 billion (€1.5 billion). Phase two will focus on a 1,000 km pipeline that will transport gas to northern parts of the country.
Potential international investors include Grey Rock Investment Partners, Kohlberg Kravis Roberts & Co, Blackstone, the Kuwait Investment Authority and Saudi Arabia’s Public Investment Fund; participation has not been confirmed and is subject to approvals and formal agreements.
