In Freight News 09/03/2015
A Floating Storage and Re-gasification Unit (FSRU), leased to convert liquid natural gas (LNG) into natural gas, is ready to leave for Pakistan on March 7 from Dubai. “We have given March 7, the date to leave Dubai for Pakistan and expect a green signal from the authorities concerned to bring FSRU vessel to Pakistan”, Engro Elengy’s Chief Executive Officer, Shiekh Imranul Haque told the media on Saturday.
Engro Elengy, the company that won the contract to handle liquefied natural gas (LNG), has acquired this vessel on lease. It has built an LNG terminal, at Port Qasim for the purpose which is ready to receive shipments from March 10 onwards. “We are ready”, he said, adding “the vessel would start operation the moment it gets green signal from the authorities concerned of the government”.
He said his company has fulfilled its commitment by constructing all infrastructure facilities in record 300 days. It may be noted that Floating storage and re-gasification units (FSRUs), are purpose-built LNG tankers that incorporate onboard equipment for the vaporization of LNG and delivery of high-pressure natural gas. These vessels load in the same manner as standard LNG tankers at traditional liquefaction terminals and also retain the flexibility to discharge in three distinct ways: As a liquid at a conventional LNG receiving terminal; as a gas through the FSRU’s connection with a subsea buoy in the hull of the ship; and as a gas through a high-pressure gas manifold located forward of the vessel’s LNG loading arms.
Imran said: “Concerned authorities are yet to announce a firm agreement with any LNG supplier. Elengy, a subsidiary of Engro, is dealing the project, which has a total cost of $133.3 million. Engro financed construction of jetty, a 24-kilometre long pipeline, and got the lease of FSRU on its own. Besides, the Asian Development Bank, International Finance Corporation (IFC) and local banks will provide $20 million and $50 million, respectively. The remaining $33.3 million has come in as equity investment.
