Tabeer Energy, a subsidiary of Mitsubishi, is to invest US$300 million (€252 million) to build a new LNG terminal in Port Qasim near Karachi, Pakistan.
The news was confirmed on Twitter by Pakistan’s federal minister for maritime affairs, Ali Haider Zaidi. The new LNG terminal will be the fourth at the port. Zaidi says that the company is close to finalising its final investment decision.
The terminal will be able to accept up to 90 LNG cargoes a year, with LNG supplied by Diamond Gas International. Tabeer will charter a floating storage and regasification unit (FSRU), and will construct a jetty, an onshore receiving facility and a 24 km pipeline. Construction will take 20–24 months.