Pakistan has green-lighted five consortiums, led by major corporations, to move forward with constructing their respective LNG terminals in the country.
The groups include Exxon Mobil and its partner Energas, Royal Dutch Shell and its partner Engro, and Mitsubishi with its partner Tabeer Energy, according to Reuters. In addition, Pakistani conglomerate Fatima and Gunvor, and Pakistan GasPort and commodities trader Trafigura also received approval.
The Mitsubishi, Shell and Exxon Mobil consortiums have announced plans already for the terminals, which will be Floating Storage and Regasification Unit (FSRUs) vessels.
The consortiums are planning to pay for the construction projects and royalty fees; however, Pakistan said it will provide $2 billion in funding to build a pipeline to distribute the gas and storage facilities.
All of the terminals could be in operation within two to three years.
