EL7.AI
CommoditiesMedium•2 November 2026•
4 min read

Consortium proposes $4.4 billion investment in integrated Pakistan LNG project

Key Facts

1The consortium is seeking to invest up to $4.4 billion in an integrated LNG project.
2The first phase is estimated to cost $1.7 billion and includes a terminal with 4 tanks and annual handling capacity of 35 billion cubic feet.
3The second phase proposes a 1,100-kilometer pipeline with capacity of about 1.2 billion cubic feet per day.
4Potential investors have yet to confirm binding equity commitments.

A US-linked consortium is seeking to invest up to $4.4 billion in an integrated project to import, store, regasify, transport and sell liquefied natural gas to major consumers in Pakistan. Dawn published details of the proposal on November 2, 2026, describing it as a South Asian storage and trading hub serving the Pakistani market and suppliers in the United States and the Middle East. The group includes Global Vision Energy Partners and Khanji Holdings, two affiliated companies, as well as General Mediterranean Holding and strategic investors from other countries. The plan starts with a terminal at Port Qasim, before extending in a later phase to a pipeline carrying gas inland. The $4.4 billion figure is the ceiling of the proposed investment, not secured financing or a project that has entered execution.

The first phase involves building a storage and regasification facility at Port Qasim, with 4 tanks and an estimated cost of $1.7 billion. Its annual handling capacity is estimated at about 35 billion cubic feet, making it a receiving and processing point for imported gas before it is directed to buyers. In the second phase, the consortium proposes building a 1,100-kilometer pipeline with a diameter of between 42 and 48 inches to transport gas inland. The line's approximate capacity is 1.2 billion cubic feet per day, according to the proposal. This phase brings the project's estimated total cost to $4.4 billion, while the facilities and pipeline remain part of a proposed plan.

The proposed financing structure calls for debt to cover 70% of the project and equity 30%. Under the announced share allocation, Global Vision Energy Partners would own 26%, while General Mediterranean Holding would receive 24%. Khanji Holdings would hold 20%, matching the share of strategic investors, with 10% allocated to local investors in the first phase. However, the report said potential investors had yet to confirm any binding equity commitments. Their participation also remains subject to due diligence, investment approvals and final agreements, leaving the raising of equity unresolved in the proposal.

The plan includes a proposed tariff of $4.93 per million British thermal units for the terminal and storage facility, while the separate transportation tariff is estimated at $1.91 per unit during the first ten years. After that period, the two tariffs are expected to fall, respectively, to $2.20 for the terminal and storage and $0.92 for transportation. These figures reflect a commercial framework for providing gas reception, storage and transportation services, not approved final prices. The proposal tied its viability to making gas available to major consumers on a commercial basis. But project approval and completion of its financing and regulatory arrangements remain necessary before it can become operating infrastructure.

The project was approved for consideration under the U.S. Trade and Development Agency's project preparation program, Dawn reported. The report said potential partial financing from the U.S. International Development Finance Corporation and export credit guarantees from the Export-Import Bank of the United States remain options, not confirmed funding. On the regulatory front, an application was submitted to the Oil and Gas Regulatory Authority of Pakistan for a provisional license, and approval of the project site was attributed to the Port Qasim Authority. A special purpose vehicle was also established for the project. These steps do not amount to final approval of all elements of the plan or resolution of its funding sources.

The plan comes as Pakistan relies on Port Qasim facilities to receive LNG imports. A government study says the country had two LNG terminals at the port, with combined capacity of about 1,200 to 1,400 million cubic feet per day, and estimated that available capacity would be sufficient through 2025. The Integrated Energy Planning study projected that LNG import requirements would reach 1,900 million cubic feet per day by 2030. It also said meeting projected demand after 2025 would require an additional terminal with capacity of at least 600 million cubic feet per day and 19 cargoes annually. Underscoring the port's importance in the import chain, LNG accounted for 37.2% of total import handling at Port Qasim during fiscal year 2024–2025, according to the port authority.

The government study provides further context on storage: Dawn reported that Pakistan currently has no LNG storage facilities. In an earlier investment effort, the Energas project, which included the Lucky Group and QatarEnergy, withdrew from a plan to build a terminal at Port Qasim after citing major changes in Pakistan's energy policy and requirements, alongside outstanding financial and policy issues. The new proposal therefore faces a market that planning estimates say needs additional capacity, while its progress depends on securing financing and licenses and attracting investors. The report did not specify when either the first or second phase would begin. The next step remains contingent on completing due diligence, approvals and final agreements with potential investors.