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Mitsubishi setting up 3rd LNG Terminal

Japanese leading business conglomerate Mitsubishi Corporation is setting up another liquefied natural gas (LNG) terminal.

“Mitsubishi is undertaking several joint ventures in Pakistan and is also setting up Pakistan’s 3rd LNG terminal,” a government statement said after the meeting between Prime Minister Shahid Khaqan Abbasi and a delegation of Mitsubishi Corporation and Diamond Gas International, led by Kimihidi Ando, senior vice president of Mitsubishi.

Presently, Pakistan has two LNG terminals with a combined re-gasification capacity of 1.2 billion cubic feet per day (bcfd). Pakistan with a population of over 200 million and economic growth of five percent plus has the growing appetite for LNG imports, which are expected to climb fivefold to 30 million tonnes a year by 2022.