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Hoegh to be a Part of Consortium to Raise Pakistan LNG Imports

The development of Floating Storage and Regasification Unit (FSRU) and natural gas pipeline network would support the growing demand for LNG in the country 

Pakistan: Qatar Petroleum (QP), Total, Mitsubishi, ExxonMobil, and Hoegh LNG announced to boost the Liquefied Natural Gas (LNG) import project in Pakistan in association with Global Energy Infrastructure Limited (GEIL). The consortium would include the development of Floating Storage and Regasification Unit (FSRU), a jetty and a pipeline network in a bid to supply natural gas to Pakistan. The regasification capacity of the project is expected to be 750 million cubic feet per day by the end of 2018. The project will ensure reliable natural gas supply to Pakistan.

TechSci Research depicts that the demand for natural gas is growing rapidly in Asian nations such as Pakistan. The development of natural gas infrastructure in the country would help in tapping the huge demand for natural gas arising out of government’s aim to promote clean fuel such as natural gas. The development of project will ensure reliable supply of natural gas in Pakistan. The construction of such an infrastructure would ensure the consistent supply of natural gas to the rural regions of Pakistan, thereby helping in meeting fresh demand for natural gas in the region. This is expected to boost the global LNG market in coming years as well.

According to released report of TechSci Research, Global LNG Market Demand & Supply Analysis, By Region, By Country, By LNG Terminal, Competition Forecast and Opportunities, 2011-2025”, global LNG supply market is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising demand for cleaner fuels; oversupply of LNG due to liquefaction capacity additions in Australia, US and Papua New Guinea; and declining prices of LNG over the last few years. In 2015, global LNG export market was dominated by Qatar and Australia, due to huge natural gas reserves and large liquefication capacities in these countries. 

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