29NOV2018 - NEWS - Tank storage company Royal Vopak expands share in LNG terminal in Pakistan

Tank storage company Royal Vopak is to acquire 44% in Elengy Terminal Pakistan Ltd (ETPL) in separate transactions with International Finance Corporation (IFC) and Engro Corporation. This includes the acquisition of a 29% share announced in July 2018 when Vopak bought the stake in ETPL from Engro Corporation. The facility has been in operation since 2015 and is the first LNG import facility in Pakistan. The facility consists of an LNG jetty including a 7.5 km high pressure gas pipeline. This pipeline is connected to the grid of EETPL’s sole customer Sui Southern Gas Company, a Pakistan government-owned entity. EETPL holds a 15-year floating storage and regasification unit (FSRU) time charter.

Published by Editor - www.Livebunkers.com at 29-Nov-2018 05:21:40 [UTC] , contact editor at editor@livebunkers.com