Pakistan LNG project consortium dissolves

According to Reuters, an LNG import project consortium in Pakistan, formed by Exxon Mobil, France’s Total and Qatar Petroleum has been dissolved as the members didn’t manage to agree with Global Energy Infrastructure (GEI).

The specific project was a floating storage and regasification unit (FSRU), in which LNG would be converted into gas to supply Pakistan’s grid and was going to be the country’s third and biggest by import capacity.

The other six members of the consortium, as Reuters reports, were Japan’s Mitsubishi and Turkish developer Global Energy Infrastructure (GEI).

Furthermore, due to disagreement with GEI Exxon Mobil quit the project and Total and Mitsubish could quit as well.

From their part, Hoegh LNG didn’t agree with GEI regarding the project costs and is now looking for other opportunities as an FSRU provider in Pakistan, Reuters mentions.

The dissolution of the consortium causes significant problems to a multibillion-dollar deal Qatar has signed with GEI regarding the sale of 2.3 million tonnes of LNG.

Thus, GEI is now trying to find alternative companies to join the scheme, such as Vitol, Reuters conclude.