Federal Minister for Maritime Affairs Syed Ali Haider Zaidi chaired a meeting on LNG terminals in Islamabad today whereby Secretary, Maritime Affairs Mr. Rizwan Ahmed, Chairman Port Qasim Nasir Hassan Shah were also present. Moreover delegates from Energas, Exxon Mobil, Tabeer energy also attended the meeting via video link.
The meeting was held to discuss in detail the installation of two LNG terminals by Tabeer Energy and Energas to open up its LNG market to the private sector. The LNG terminal operators have already submitted $2 million each out of $10 million for allocation of land at PQA and will attract an investment of more than $500 million in total. In addition to the above the terminals are being set up without any government off-take guarantee which will add a whole new dimension to the LNG market in Pakistan.
The participants praised the unprecedented pace and transparency with which Ministry of Maritime Affairs has dealt with this project. Federal Minister Ali Haider Zaidi ensured the resolution of any issues that may slow down the process of installation. "The business friendly policies of the current government makes this to be the right time to invest in Pakistan. Gone are the days when such projects were installed for kickbacks. The process of establishment of these two terminals is going to set a precedent of transparency and efficiency for the future" the minister remarked.
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