26 August, 2016
Please note Shearman & Sterling is advising BW Group on its agreement with Pakistan GasPort Limited to provide LNG regasification services utilizing a new-build Floating Storage and Regasification Unit (FSRU) for the second Pakistan LNG terminal. The project is due to be commissioned by 30 June 2017, at Port Qasim, Karachi. Pinsent Mason acted for PGP Consortium Limited.
According to the client’s press release below this landmark project will reduce Pakistan’s gas deficit by 30%, ensure fuel for 3600 MW of new power generation plants being constructed in Pakistan to reduce power outages by 80%, and save some $1.5 billion in annual foreign-exchange savings.
The Shearman & Sterling team was led by partner Anthony Patten and associate Lachlan Clancy (both Singapore-Project Development & Finance Group).
