Elengy Terminal

completed

Following a public tendering process in 2013, Engro Elengy Terminal (Private) Limited (‘ETPL’) has signed a 15-year LNG Service Agreement (“LSA”) with the Sui Southern Gas Company (“SSGC”) under the terms of which ETPL will be responsible for the design, construction and operation of a 3 MTPA LNG receiving, re-gasification and storage facility at Port Qasim, near Karachi (the “Project”). This terminal will be the first LNG import facility in Pakistan and will enable the country to start importing LNG, thus helping it meet some of the growing demand for natural gas, particularly in the power sector. The Project involves use of a Floating Storage and Regasification Unit (‘FSRU’) which will store the imported LNG and regasify it before transporting the gas via a pipeline to the existing SSGC gas network near Port Qasim. Development of the Project is expected to be completed by early 2015. Engro Corp has invited IFC to invest in the debt and equity financing of this Project.