08 04 2016

LNG terminal at Port Qasim secures $130 million Financing

White & Case LLP has advised International Finance Corporation (IFC), Asian Development Bank (ADB) and a syndicate of local banks on the project financing of a 4.5 MTPA LNG facility at Port Qasim, near Karachi, Pakistan.


Following a public tendering process in 2013, Engro Elengy Terminal (Private) Limited (‘ETPL’) has signed a 15-year LNG Service Agreement 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. 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. Total Project cost is estimated to be around $130 million to be funded via a combination of debt and equity financing. White & Case LLP has advised International Finance Corporation (IFC), Asian Development Bank (ADB) and a syndicate of local banks on the project financing. The White & Case team was led by UAE-based partner Matthew Wood (Picture) and supported by associates Anne-Marie Wicks, Laleh Shahabi, Dann Irving and Judith Olloh, based in Abu Dhabi, and Saghar Khodabakhsh, based in London. Involved fees earner: Matthew Wood - White & Case; Anne Wicks - White & Case; Laleh Shahabi - White & Case; Dann Irving - White & Case; Judith Olloh - White & Case; Saghar Khodabakhsh - White & Case;

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