KARACHI: Tabeer Energy Marketing (Pvt) limited and Energas Marketing (Pvt) limited were granted licenses for Liquefied natural gas (LNG) sales and marketing in Pakistan.
According to the sources in Islamabad, the Oil and Gas Regulatory Authority (OGRA) has issued licenses to these marketing companies for a period of one year. Tabeer Energy Marketing (Pvt) Limited (TEMPL) is a subsidiary of the Japanese based firm Mitsubishi, while Energas Marketing (Pvt) Limited (EMPL) is Karachi based marketing company.
Sources told The Correspondent that both companies plan to import LNG by utilizing the idle capacity available in the LNG terminal. OGRA believes that by utilizing this capacity, these companies will help mitigate the annual losses incurred by the federal government in the form of capacity charges to the terminal and also in the form of lost revenue from the underutilization of the Sui Pipeline network.
The regulator has issued licenses to these companies for the sale of Regasified Liquefied Natural Gas (RLNG) to consumers, industries, power plants and licensed CNG stations for an initial period of ten years with effect from January 8, 2021, unless revoked earlier.
The licensee shall be entitled to charge the RLNG price in accordance with the government policy guidelines issued from time to time by the federal government. Tabeer Energy operates businesses including natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, automotive and mobility, food industry, consumer industry, power solution, and urban development, in 90 countries and regions around the world.
Mitsubishi Corporation remains fully dedicated to growing its businesses and aims to help enrich society while adhering to its principle of conducting business with integrity and fairness.
Karachi based company Energas Marketing (Pvt) Limited incorporated on December 12, 2018 in Pakistan and its parent company Energas Terminal Private Limited, is developing a LNG terminal at Port Qasim. The company aims to be the first private LNG terminal in Pakistan.
Energas will forge strategic partnerships and alliances to ensure that competitive and reliable energy helps alleviate the existing energy crisis and fuel future growth aspirations for Pakistan. Its LNG terminal will ensure availability of affordable, competitive and sustainable gas supplies for captive use by project developers and their partners (their associated / affiliated companies) and to other gas buyers who wish to procure re-gasified LNG/terminal capacity from the project.