A Master EPCF (Engineering Procurement Construction and Finance) contract has been signed by Daewoo Gas with China National Chemical Engineering Construction Company. Daewoo Gas LNG project is a technological breakthrough, based on innovative design of transporting liquefied natural gas (LNG) on trucks and bowsers loaded with ISO tanks rather than through the pipeline system. This technology is referred to as “Virtual LNG” (VLNG) pipeline and is common in China. The virtual ceremony was attended by the participants of both sides to discuss the terms and conditions. Under the terms of Master EPCF contract, the CNCEC would design, construct and finance an offshore LNG terminal complete with topside equipment to enable LNG filling into ISO containers for use in Pakistan. The specialized LNG containers will be moved by truck all over Pakistan where LNG will be re-gasified at client sites. At its peak, Daewoo Gas’ terminal will handle 10,000 metric tons of LNG per day, improve Pakistan’s energy supply, create thousands of jobs nationally, and reduce carbon emissions. The total foreign investment in this project including the terminal, facilities, LNG logistics and supply infrastructure is estimated to be USD 300 million. For the first time in Pakistan, Daewoo Gas will develop a gas supply-chain in parallel to the fixed pipeline supply network at no risk or cost to Government of Pakistan. Facilitating re-gasification at their sites, all customers nationwide will be supplied gas through specialized LNG tanker trucks. This project would go a long way to give gas consumers a choice of supply apart from piped gas. This large and ambitious project represents the ideals of CPEC industrial cooperation and technology transfer between the brotherly countries of China and Pakistan.
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