70,000 tons of LNG First vessel arrives at PGPC terminal

The first LNG vessel carrying 70,000 tons of liquefied natural gas berthed alongside the FSRU at the Pakistan GasPort Consortium Limited (PGPC) LNG Terminal at Port Qasim, Karachi.

According to details, LNG has been supplied by global commodity trader Gunvor from Nigeria. The name of the vessel is Golar Kevin. The commissioning tests will immediately start and after the completion of commissioning and acceptance tests, supply to the National Grid will increase by 600 mmcfd in next few days.

On November 20, 2017, Prime Minister Shahid Khaqan Abbasi inaugurated the second LNG terminal at Port Qasim, built at a cost of Rs50 billion.

In January 2017, Gunvor emerged as the lowest bidder for supplying the LNG at much lower rates. Gunvor had quoted the LNG price at 11.62 percent of a barrel of crude oil (Brent) for short-term supply for five years. This was Gunvor’s second five-year contract after the one it signed early 2016. Gunvor would ensure 60 ships in five years.

Gunvor won the first contract of LNG supply in May 2016 against a tender by Pakistan State Oil, seeking supply of 100 mmcfd of the LNG.