Elengy Terminal

completed

Engro Corporation Limited (Engro) is one of Pakistan’s largest conglomerates with businesses ranging from fertilizers to power generation. Engro operates a liquid chemical terminal, EVTL, at Port Qasim (PQ) near Karachi. IFC plans to provide project finance to EETL LNG terminal project, located adjacent to the existing EVTL site.  EVTL is jointly owned by Engro and Royal Vopak of the Netherlands, the world's largest independent tank storage provider. EVTL currently handles jetty unloading and storages of liquefied petroleum gas (LPG), liquefied ethylene, ethylene dichloride, mono ethylene glycol, phosphoric acid, acetic acid, paraxylene, and vinyl chloride monomer. Some liquid chemicals are piped to chemical plants in the Port Qasim industry zone and others are transported out by road tankers.  For the proposed Elengy Terminal project, a branch jetty for liquefied natural gas (LNG) will be built at EVTL’s current liquid chemical jetty. A Floating Storage and Regasification Unit (FSRU) will be permanently moored at the LNG jetty for LNG unloading, storage, and regasification processes. The FSRU will be provided and operated by Excelerate Energy (EE), a leading developer of LNG transportation and floating regasification infrastructure in US. The natural gas from FSRU will be transferred along a new 24 km gas pipeline to connect with the existing natural gas pipeline system. IFC has multiple existing projects with Engro. The ongoing supervision of the existing investments in Engro indicates general compliance with IFC’s environmental and social requirements and the associated overall performance is considered satisfactory.