Shell, Exxon Pursuing Pakistan LNG Terminal Plans
Pakistan has given provisional permission to five developers, including partnerships with Exxon Mobil and Royal Dutch Shell, to set up LNG import terminals.
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The developers are now required to submit technical and financial details by Nov. 5, as well as a $2 million concession fee, according to Ali Zaidi, minister for maritime affairs. Another $8 million will be paid on the signing of so-called implementation agreements.
“It’s a great opportunity for private investors to set up their own terminals, import their own gas and develop their own markets,’’ Zaidi said in a phone interview.
The government is requiring the terminals to be completed in two years, and for the operators to pay a royalty of $1.90 per ton, according to Zaidi. The companies are also required to disclose if they’re being investigated by any government authority.
According to Zaidi, the five prospective developers are:
- Tabeer Energy, a unit of Mitsubishi Corp.
- Exxon and Energas, a venture that includes Lucky Group, Sapphire and Halmore
- Trafigura Group and Pakistan GasPort
- Shell, Engro Corp., Gunvor and Fatima
- Global Energy Infrastructure Ltd.
Source: www.worldoil.com
