Marine Link
Friday, November 24, 2017

Excelerate to Develop Second FSRU for Port Qasim

February 1, 2017

Photo:  Excelerate Energy. L. P

Photo: Excelerate Energy. L. P

 Excelerate Energy will deliver its second floating storage and regasification unit (FSRU) to Pakistan following negotiations with a consortium comprising Engro, Fatima, and Shell. It is expected to be the country's 4th such floating terminal.

 
The FSRU will be based at Port Qasim where Excelerate has had an FSRU, Exquisite, operating since March 2015 chartered to Engro-owned Elengy.
 
Excelerate has a proven track record of successfully delivering fast-track floating regasification projects around the world and will use its experience to help the Consortium meet the aggressive delivery schedule required for the terminal. 
 
Most recently, Excelerate successfully commissioned GASCO’s Ruwais Floating LNG terminal in the UAE, which was implemented in less than 12 months.
 
The Consortium’s project site is located just across the Port Qasim channel and the country’s first LNG import terminal that Elengy installed early last year utilizing Excelerate’s floating regas technology. 
 
When the Consortium’s project comes on line in 2018, the total regasification capacity from Excelerate’s two FSRU’s at Port Qasim will be significantly over 1 Bcf a day which is enough natural gas to support over 6,000 MW of power generation.
 
“Excelerate is extremely excited to work with this strong partnership of Engro, Fatima, and Shell to implement this project in what we view as one of the largest markets for natural gas in the world,” stated Chief Development Officer Daniel Bustos. 
 
Daniel added: “Our project development and operations teams are aggressively reviewing implementation plans for this project. We have been very pleased to be involved with the country’s first floating LNG terminal developed by Engro’s subsidiary Elengy over the past 18 months.”
 
Maritime Reporter Magazine Cover Nov 2017 - The Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News