$500 million LNG terminal to be built in Pakistan

MOSCOW, 19 Sep — PRIME. Pakistan State Oil (PSO) plans to build a $500 million LNG terminal, Bloomberg reports, citing the state company’s CEO, Syed Muhammad Taha.

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1 The media announced the timing of the launch of a new LNG plant on Sakhalin

2 Related posts:

The media announced the timing of the launch of a new LNG plant on Sakhalin

According to the information, this terminal will be the third in the country. It is expected to take four years to build. Other details of this project are not specified.

Pakistan State Oil is the largest fuel importer and retailer in Pakistan. According to the report, the construction of the terminal will be part of the plan to diversify the company’s business.

According to Taha, PSO has already agreed with several large clients and has begun preliminary preparations. It is added that as part of this project, Pakistan’s first liquefied natural gas storage facility will be built.

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Over the past ten years, Pakistan has become one of the fastest growing LNG markets. This type of fuel is used in the country mainly for electricity generation, but the sharp increase in energy prices, which the authorities went to in order to obtain financing from the IMF, led to a shortage of raw materials and power outages.