US LNG Project Proposed for Pakistan
The US LNG project proposed for Pakistan would build a new import terminal and storage facility at Port Qasim, followed by a 1,100km pipeline to carry gas to upcountry markets. A private consortium of US-linked companies is pushing the plan, which could cost up to $4.4 billion in total. Dawn reported the proposal on November 2, 2026, and ProPakistani carried the same proposal on the same morning.
The consortium includes Global Vision Energy Partners and Khanjee Holdings, along with strategic co-investors from other countries and General Mediterranean Holding, a Luxembourg-based US financial group. The sponsors have said they secured consent from the Port Qasim Authority for the site. They have also applied to the Oil and Gas Regulatory Authority, known as Ogra, for a provisional licence.
A special purpose vehicle, a separate company set up to hold the project assets and debts, has already been formed. Government facilitation has been conveyed through the Ministry of Maritime Affairs and the Petroleum Division of the Ministry of Energy, according to documents seen by Dawn. The project has also been approved for consideration under the United States Trade and Development Agency project preparation programme. It may receive partial financing from the United States Development Finance Corporation, backed by export credit guarantees from the United States Export-Import Bank.
US LNG project: what the two phases would build
The first phase would cost $1.7 billion. It would comprise an LNG terminal and storage facility with four tanks, each holding 140,000 cubic metres, for total static storage of 560,000 cubic metres. Based on three inventory cycles a year, the facility would handle about 35.6 billion cubic feet of LNG a year, with about 11.9 billion cubic feet of storage in each cycle.
The second phase would add a 1,100km pipeline, 42 to 48 inches in diameter, with capacity of about 1.2 billion cubic feet a day. That would take the total project cost to $4.4 billion. The sponsors plan to run the venture as a merchant platform. It would meet Pakistan domestic regasification needs and also serve as a physical LNG storage and trading hub in South Asia for suppliers from the United States and the Middle East.
Tariffs, stakes and local investors
The proposed tolling tariff for the terminal and storage facility is $4.93 per million British thermal units, while the separate transmission tariff is estimated at $1.91 per million British thermal units for the first 10 years. After that period, the rates are projected to fall to $2.20 and $0.92 per million British thermal units respectively.
Under the proposed financing structure, the debt-to-equity ratio would be 70:30. Global Vision Energy Partners would hold 26 per cent, General Mediterranean Holding 24 per cent, and Khanjee Holdings and strategic co-investors 20 per cent each. Local investors would hold the remaining 10 per cent in the first phase, estimated to cost $1.32 billion on the proposed financing ratio. The consortium is seeking local equity of up to 10 per cent, with indicative investments starting at $50 million per investor.
The final project cost will be set after engineering, procurement and construction contracts and other construction and supply deals are signed.
Why storage matters for Pakistan
What is the US LNG project?
It is a proposed $4.4 billion integrated LNG project in Pakistan, covering imports, storage, regasification, gas transmission and sales to large consumers on a merchant basis.
Where would the terminal be built?
The first phase would be built at Port Qasim, with four tanks holding a combined 560,000 cubic metres of LNG.
How long would the pipeline be?
The second phase pipeline would run 1,100km to upcountry markets, with capacity of about 1.2 billion cubic feet a day.
Who is behind the proposal?
The consortium includes Global Vision Energy Partners and Khanjee Holdings, with General Mediterranean Holding and other strategic co-investors. The project has backing from the Trump administration in the United States.
Has the project been approved yet?
No. The sponsors have applied to Ogra for a provisional licence, and the project is under consideration for United States preparation and financing support. No binding equity commitments have been confirmed.
