BW selected as FSRU supplier by Pakistan GasPort Limited

BW Group (BW) has signed a 15-year agreement with Pakistan GasPort Limited (PGPL) to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal.

BW’s state-of-the-art FSRU, Hull No. 2118 and currently at Samsung Heavy Industries (SHI) in Korea, will be utilized for this project. To be delivered in 4Q2016, the vessel offers a low environmental footprint, high efficiency, storage capacity in excess of 170,000m3 and a peak regasification capacity of 750mmscfd.

“We are proud to be selected as the FSRU supplier for the Pakistan project,” says Yngvil Åsheim, Managing Director of BW LNG. “BW is a leading player in the LNG sector, and we will leverage on our many years of experience to support Pakistan as they build their second LNG terminal. We look forward to a strong partnership with Pakistan GasPort and to delivering our commitments on time and at the highest quality.”

“We are delighted to be working with BW on this vitally important infrastructure project, which is the result of policies aimed at promoting investment and the renewed global faith in our country’s economy,” says Iqbal Z. Ahmed, Chairman of PGPL. “This landmark project will reduce Pakistan’s gas deficit by 30 percent, ensure fuel for 3,600 megawatts of new power generation plants being constructed in Pakistan to reduce power outages by 80 percent, and save some $1.5 billion in annual foreign-exchange savings.”

The project will be commissioned by 30 June 2017, at Port Qasim, Karachi.

BW is a leading international gas shipping company with more than 80 years of maritime energy transportation history, 40 years of operational experience in LNG, and a current fleet of 21 LNG carriers including newbuildings. BW is the world’s largest owner and operator of Very Large Gas Carriers and a leading player in tankers and Floating Production Storage and Offloading units (FPSOs). BW’s first FSRU, the BW Singapore, is currently involved in a five-year contract providing LNG regasification and storage services in Egypt.

PGPL is part of Associated Group (AG), one of Pakistan’s business houses specializing in the energy sector. Established in 1965, AG is today the country’s largest gas processor in the private sector, and represents both the largest investment made so far in Pakistan’s LPG sector and the most expansive nationwide LPG bottling, transportation and marketing network. AG also has interests in power generation, construction, and media.

Source: BW group

CPEC TO BRING ABOUT REVOLUTION IN BALOCHISTAN: JAM KAMAL

ISLAMABAD: Minister of State for Petroleum and Natural Resources, Jam Kamal Khan Thursday said that the Pakistan China Economic Corridor (CPEC) would bring about economic revolution in the whole Baluchistan region.

He said that the development of Gwadar port was the priority of the government which would not only help development of the area but would ensure progress of whole Balochistan.

According to press statement issued here, the Minister was inaugurating a gas extension project of Sui Southern in Gawadar. He urged the youth to focus on education and overcome all the confronting challenges.

He said that provision of gas to the far-flung areas of Balochistan was priority of his government.

He said that no attention was given to the far flung areas of Balochistan in the past, however added that the current government was focusing on backward areas and was working on various schemes to uplift these areas.

He said that the government was working on different projects of education, health, irrigation to help develop the area.

Earlier, the minister was briefed by Acting Director Sui Southern, Waseem Ahmad on the extension project. He was informed that gas network existed in Gwadar since 2006 which has been facilitating about 994 domestic and two commercial consumers.

He said that with the extension of the project, all the areas of city would be facilitated. Chairman Gwadar, Dosteen Jamal-ud- Din, Chairman District Council, Babu Ghulab Baloch, Deputy Commissioner Gwadar Tufail Baloch were also present on the occasion.

Source:www.berecorder.com

PM says will not compromise on Pakistan’s strategic interests

• PM launches 17,000-tonne Pakistan Navy Warship fleet tanker at Karachi Shipyard
• Says Pakistan will consolidate maritime infrastructure from Karachi to Gwadar and facilities to expand trade
• Pakistan, Turkey to expand cooperation in defence production; Four submarines to be built at same shipyard with Chinese collaboration; Another shipyard to be built in Gwadar

Prime Minister Nawaz Sharif on Friday said that the government is committed to consolidating maritime infrastructure along the coast from Karachi to Gwadar to provide the requisite facilities for the expansion of trade.

The PM spoke after launching a 17,000-tonne Pakistan Navy Warship fleet tanker at the Karachi Shipyard. The PM said on the occasion that there would be no compromise on the country’s strategic interests.

The prime minister said that the ongoing development projects including the China-Pakistan Economic Corridor (CPEC) reflect the government’s aim to achieve maximum output in terms of regional trade and shipment with Gwadar as a focal point.

PM Nawaz said self reliance in defence production is the objective of his government and that he will support indigenisation in all technological spheres.

The fleet tanker was built in collaboration with Turkish firm Savunma Teknologiler Muhendisilik (STM). The design of the fleet tanker was prepared by Turkish engineers, while the project was executed in the Karachi Shipyard.

The prime minister expressed the hope that Pakistan will continue to collaborate with the Turkish government and businesses to build more ships and fleets at the Karachi Shipyard.

“Our friendship will withstand the tests of time,” he said.

He said joint ventures will further strengthen the mutual bonds between Pakistan and Turkey. It will open up more opportunities for cooperation in the field of building indigenous warships and other defence sector products.

Nawaz Sharif said he has a vision of a democratic and economically vibrant Pakistan. He said the country has tremendous human resources, especially a large youth population, to effectively work for national development.

Prime Minister Nawaz Sharif praised the Karachi Shipyard, Pakistan Navy and the Ministry of Defence Production for launching the ship two months ahead of schedule.

He said the strategic location of Pakistan remains an invaluable asset and expressed confidence that Pakistan’s fleet will play an important role in securing the country. He said that developing shipping is part of our maritime initiative. He said the government is cognizant of the fact that the shipping industry plays a vital role in the industrial growth and employment generation for a country.

‘KARACHI SHIPYARD REVIVED’:

The prime minister said the new shipyard in Gwadar is being accorded due priority.

He announced Rs 100 million as bonus for the shipyard’s employees.

Minister for Defence Production Rana Tanwir Hussain said the Karachi Shipyard is a vibrant establishment which is working at 100 per cent capacity and earning record profit. He said the revival of the shipyard became possible due to the Pakistan Navy’s support in placing orders for the construction of its ships. He said four submarines will be built at the shipyard with the support of China.

He said the country has a long coast line extending from Karachi to Jiwani and establishment of new shipyards will enhance ship building. He said the government is working on the establishment of a shipyard at Gwadar.

‘PAKISTAN, TURKEY SHOULD EXPAND COOPERTION IN DEFENCE PRODUCTION’:

Dr Ismail, leader of the Turkish delegation, said Turkey and Pakistan need more cooperation in today’s security environment. Both countries are facing very important challenges including terrorism. He suggested increasing cooperation in defence production.

Dr Ismail said many new projects for military, air force and naval forces are in the works. He hoped that the two countries will jointly manufacture a fighter jet.

Karachi Shipyard Managing Director Rear Admiral Syed Hassan Nasir in his welcome address said the ship will be in service for three to four decades. He it is a symbol of our friendship with Turkey.

The design of the 17,000-tonne heavy fleet tanker was prepared by Turkish engineers. It was built with the cooperation of Turkey in the Karachi Shipyard.

Source: http://www.pakistantoday.com.pk