The US-based oil and gas company, Exxon Mobil Corp, has partnered with a Pakistani consortium to build and supply the nation’s third liquefied natural gas (LNG) terminal.
The news of Energas and the firm’s alliance was revealed by Mir Hasil Khan Bizenjo, Pakistan’s Minister of Maritime Affairs, and reported by Bloomberg.
According to Bloomberg, the firms presented the plan to Pakistani regulators, noting the terminal would cost $150mn to build, starting in May.
The offshore terminal, located at Port Qasim near Karachi, is expected to be operational by the end of 2019.
When functional Exxon and Qatar would supply the fuel to the terminal, which will have a capacity of 750m cubic ft per day.
The annual capacity of the terminal will be approximately 5.6mn tonnes of LNG per year.
According to Energas and Exxon, the firm and consortium have already made deals with customers for 300mn cubic feet per day of gas.