The second LNG floating storage and regasification unit (FSRU) to be deployed in Pakistan has achieved completion and will sail to Karachi on schedule.
Constructed by Samsung Heavy Industries, this brand new FSRU is part of the fast-track LNG terminal being established by Pakistan GasPort Consortium Limited (PGPC) at Mazhar Point, Port Qasim. It will provide 600mmcfd of regasification capacity to state-owned Pakistan LNG Terminals Limited (PLTL) under a 15-year contract at a tariff of $0.4177 per mmbtu.
The FSRU, owned by the BW Group, is scheduled to reach Karachi in June.
The official naming ceremony for the vessel took place at the Samsung shipyard in Geoje, South Korea, on January 12, 2017. The FSRU has been named the BW Integrity.
“This is an occasion of great professional achievement for the men and women who worked for years to make this complex project a reality,” Shahid Khaqan Abbasi, Pakistan’s federal minister for petroleum and natural resources, said in a message read out at the function. “This FSRU will more than double Pakistan’s LNG regasification capacity, to over 1,200mmcfd. The Government of Pakistan fully supports this project. Best wishes and Godspeed.”
Speaking on the occasion, Carsten Mortensen, CEO, BW Group, said: “BW Integrity represents our commitment to provide customers with high quality LNG shipping and regasification solutions. We look forward to a trusted, solid and strong working relationship with our friends and partners in Pakistan, as we deploy this vessel for the second Pakistan LNG terminal.”
BW’s first FSRU, the BW Singapore, is currently involved in a five-year contract providing LNG regasification and storage services at the Port of Ain Sokhna in Egypt.
“BW Integrity is a vital and essential part of our plan to reduce Pakistan’s gas deficit, provide fuel for 3,600 megawatts of brand new power-generation capacity, yield an estimated $1.5 billion in annual foreign-exchange savings, and visibly boost the country’s economic growth,” said Iqbal Z. Ahmed, Chairman of PGPC.
The vessel naming ceremony was hosted by D. Y. Park, President and CEO, Samsung Heavy Industries. Mrs. Saira Ahmed, Godmother of the vessel, read the encomium, cut the ceremonial rope with an axe, and officially named SN2118 as the BW Integrity. The ceremony was followed by an extensive tour of the FSRU and formal lunch.
The function was attended by senior representatives of PGPC, PLTL, Port Qasim Authority, Samsung, and Trafigura Holdings Limited, the world’s largest LNG trading company.