ISLAMABAD: Oil and Gas Regulatory Authority (OGRA) has granted licence to Elengy Terminal Pakistan Limited (ETPL) for construction and operation of Liquefied Natural Gas (LNG) re-gasification terminal, while supply of LNG from Elengy’s terminal would start from April 2015.
OGRA officials said license to ETPL for terminal at Port Qasim was granted after the fulfilment of all requirements of OGRA LNG Rules and policy of the federal government. ETPL has been made bound to make terminal operation till April 2015.
They said the license for construction of terminal was given for two years and after passing the period, license would need extension while this license would be valid for construction of Floating Storage Re-Gasification Unit (FSRU) and for LNG Receiving Terminal.
The license holder will not entitle to perform any other activity (business) after awarding the job. They said the OGRA has granted license initially for handling 500 million cubic feet per day mmcfd) of LNG and if the Company in future would express willingness to give extension in the capacity then the regulator will amend license under LNG Rule 2007. They said the ETPL was bound to provide project implementation report and schedule of construction to OGRA within 15 days. ETPL has fulfilled the technical and legal requirements and there was also gas shortage in the country, which demanded fast track import of LNG. This decision of OGRA will help to mitigate the energy crisis in the country, OGRA men said. Sharing details of terms and conditions of license, the sources informed after the construction of terminal at Port Qasim, OGRA would appoint recognised autonomous consultant to submit report about the construction of terminal. The terminal would start operation in accordance with the consultant’s report. More, ETPL has been made bound to ensure environment and security besides it was advised to fulfil other terms and conditions of the license.
A senior official at OGRA on the condition of anonymity said Authority would impose penalty beside cancellation of the license in case of violation of rules and terms of the license.
Earlier ETPL filed an application before OGRA for grant of licence for construction of LNG receiving and re-gasification facility at Port Qasim Karachi. OGRA examined the application under its rules besides SGS an international reputed independent consultant also evaluated the application. The consultant in its evaluation report termed the application of ETPL in compliance with OGRA-LNG Rules, 2007 and federal government’s LNG Policy 2011. Necessary no objection certificate from Ministry of Defence and approval of the Port Qasim Authority have also been submitted by the project developer. OGRA conducted public hearing in the matter and the concerns of the stakeholders have also been taken care before granting license.
KARACHI: Commercial banks are reluctant to boost house financing through lending as their gross ...