Dutch Energy Storage Company Wants to Invest in LNG Import Terminals in Pakistan

Abu Dhabi-backed energy storage firm VTTI BV is exploring potential investments in LNG import terminals in Asian countries including Pakistan, reported Bloomberg. CEO Guy Moeyens in a recent interview named Bangladesh, Pakistan, and the Philippines as the region’s top locations for regasification facilities compared to Europe or the Americas. VTTI, headquartered in Rotterdam, recently acquired a 50 percent stake in the UK’s Dragon LNG terminal and is set to buy a majority share in Italy’s Adriatic LNG terminal. With a partnership already in place with Hoegh LNG for a project in the Netherlands, the company is now looking to expand further into Asia. Adnoc, one of VTTI’s major shareholders, has ramped up its own LNG activities and is building a new export terminal besides securing stakes in projects in the US and Africa. It bears mentioning that the United States and Middle Eastern countries are among those boosting their LNG export capacities to meet the growing global demand.