US-backed consortium proposes $4.4 billion LNG project in Pakistan

A consortium led by US-based Global Vision Energy Partners and Khanjee Holdings is seeking to invest $4.4 billion in an LNG terminal and gas pipeline network in Pakistan, Profit by Pakistan Today reported. The plan centres on a Port Qasim terminal, with four storage tanks and a proposed 1,100-kilometre pipeline to carry gas to consumers across the country. Its first phase is estimated at $1.7 billion.

The sponsors have obtained site consent from the Port Qasim Authority and applied to Ogra for a provisional licence, but the project remains proposed. Funding is envisaged as 70% debt and 30% equity, with possible US financing and export credit support; no binding commitments from prospective investors have been confirmed. The consortium plans to operate commercially, charging proposed tariffs of $4.93 per mmBtu for terminal and storage services and $1.91 for pipeline transmission during the first 10 years.