Höegh LNG signs a 20-year FSRU charter agreement in Pakistan
December 15, 2016
Höegh LNG signed today an FSRU contract with Global Energy Infrastructure Limited (GEIL) for GEIL’s LNG import project in Port Qasim near Karachi, Pakistan. The project is the first private LNG import terminal in Pakistan. On 29 September 2016, GEIL signed a long-term LNG supply agreement with Qatargas.
The charter is for a period of 20 years with two five year extension options for charterer and is expected to generate an average annual EBITDA of around USD 36 million. The contract is subject to both parties’ board approval. The construction of the terminal is planned to commence early 2017 and expected start-up is second quarter of 2018. The FSRU will be provided from Höegh LNG’s portfolio of FSRUs, including units under construction, planned conversions or new orders.
Edited from Höegh press release.