US-backed consortium proposes $4.4bn LNG project

[Owaiz]

The lead sponsors Global Vision and Khanjee Holdings have no track record of building something of this scale or thr balance sheet to support it. What they have is some politically connected overseas Pakistanis, including a Senator from the Musharraf dictatorship.

The proposed terminal tariffs is also extortionate. Terminal tariffs for Engro and PGP are well under $1/mmBtu. Even for projects with land based storage like Mundra in India, total cost including transmission is unde $1.5/mmBtu.

It is still only a proposal and no agreements have been signed , so it is unfair to allege corruption at this stage, but the questions to ask are what expertise does Khanjee Holdings, with no track record, bring to the table that QatarEnergy lacked and why American or other companies with established track records are not interested in this project.

 

[RescueRanger]

Guys are getting happy or fighting over a “proposal”, these things take years to progress. They haven’t even drafted a Pc1 for this…

 

[IceCold]

For power plant, better use cheaper coal where Indonesia can provide with ease and no disturbant like getting LNG from Middle East

If it is to use Pakistan own gas production, then better build pipeline, no need to build expensive LNG processing.

Getting cheaper was never on the agenda, making dollars was, and this LNG deal, if it goes through, will be the same. All power plant deals made had investors who were either directly or indirectly part of the same government is forecibly put in power by the military junta of Asim Munir.