PQA earns approx $91mn through LNG operations

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ISLAMABAD

The Port Qasim Authority (PQA) has earned revenue of approximately $ 91 million from LNG operations since the inception of first LNG terminal in March 2015, sources informed on Monday.

According to sources, the revenue earned through LNG terminal alone has surpassed all the revenues earned through existing oil and LPG terminals at PQA. They said the first-ever LNG terminal at Port Qasim has turned out be a boon for authority as it has earned a revenue of approximately $ 91 million from LNG operations since the inception of first LNG terminal in March 2015.

“LNG terminal operations have paved the way for historic earnings for PQA and the revenue earned through LNG terminal alone has surpassed all the revenues earned through existing oil and LPG terminals at PQA,” sources said.

FOTCO Oil Terminal at Port Qasim handles roughly 6 to 8 million tonnes per annum (MTPA) of petroleum products and PQA royalty is rough $ 4 to 5 million per annum whereas,  SSGC and Engro Vopak Terminal (EVTL) handles roughly 500 KT LPG per annum through which PQA earns approximately $ 2.4 million.

Port Qasim is becoming an energy hub of the country as it handles Oil, LPG, LNG, & Coal for the energy needs of the country.

Apart from the dedicated Oil, LPG, LNG and Coal handling terminals, PQA is also becoming the power generation hub of the country with approximately 1,980 MW of coal-based power plants and approximately 1,350 MW RLNG based power plants at different stages of development and construction.

Sharing the details of different under development power projects the sources informed that KE is working on a 900 MW RLNG based power plant, Engro is working on 450 MW RLNG based power project, 1,320 MW Coal based power project is being developed by Sinohydro and Lucky Electric is working on 660 MW Coal based power plant at Port Qasim.

It is also learnt that another LNG terminal of 600 MMCFD with an investment of approximately $ 130 million is also under construction at PQA and is likely to achieve commercial operations within 2017. Further, multiple consortiums are working on projects to add more LNG terminals in Port Qasim and this will increase the energy footprint of this port even more.

Ever since the induction of LNG into country’s gas distribution network, the government has brought 2,200 MW of power generation online by switching it from expensive liquid fuels.