The facility consists of an LNG jetty including a 7.5 km high-pressure gas pipeline. This pipeline is connected to the grid of ETPL’s sole customer Sui Southern Gas, a Pakistan government-owned entity. ETPL holds a 15 year FSRU time charter with Excelerate Energy.
After completion of this transaction, the shareholders in ETPL will be Engro Corporation, Vopak and the International Finance Corporation.
This acquisition is subject to certain conditions, including customary regulatory and shareholder approvals, and closing is anticipated to take place in the fourth quarter of 2018.
Pakistan is a market with more than 200 million people and has a growing energy demand in which the share of gas is expected to increase. Gas is mainly used for power supply for the growing population, industrial usage and as feedstock for fertilizers.
Edited from Vopak press release.
