Pakistan has given provisional permission to five developers, including partnerships with Exxon Mobil Corp. and Royal Dutch Shell Plc, to set up LNG import terminals, reported Bloomberg.
Minister for Maritime Affairs Ali Zaidi has said the companies are required to submit technical and financial details by Nov. 5, as well as a $2 million concession fee. Another $8 million will be paid on the signing of so-called implementation agreements.
“It’s a great opportunity for private investors to set up their own terminals, import their own gas and develop their own markets,’’ Zaidi was quoted as saying in the report.
The government is requiring the terminals to be completed in two years, and for the operators to pay a royalty of $1.90 per ton, according to Zaidi. The companies are also required to disclose if they’re being investigated by any government authority.