2. Customer Pakistan LNG Terminals Limited (“PLTL”)
PROCUREMENT PROCESS
Customer Pakistan LNG Terminals Limited (“PLTL”)
Rules Public Procurement Rules, 2004
Consultant U.K.-based Galway Group
Bids Deadline Feb. 26, 2016
Operator Pakistan GasPort
Tariff $ per mmbtu
Capacity 600mmcfd
Award June 24, 2016
Contract* July 1, 2016
First Gas June 30, 2017
*The 15-year LNG Operations and Services Agreement (the “Contract”) was signed after approvals from, among others, the Federal Cabinet’s Economic Coordination Committee and the Ministry of Law and Justice

3. PROJECT PARTIES Operator
PGP Consortium Limited (“PGPC”), which is wholly owned by Pakistan GasPort Limited (“PGPL”)
EPC Consortium
(For PGPC and FOTCO)
Xinjiang Petroleum Engineering Co., Ltd. (“XPE”)
CCCC Third Harbor Engineering Co., Ltd.
CCCC Third Harbor Consultants Co., Ltd.
Project Associate
Fauji Oil Terminal and Distribution Co., Ltd. (“FOTCO”)
FSRU Provider
BW Gas Limited (“BW”)
Owner’s Engineer
COWI Gulf A/S (“COWI”)
Financial Advisor
Arif Habib Limited
Insurance Advisor
Marsh Limited

4. LOCATION Chara Chan Waddio Creek, Mazhar Point, Port Qasim
1.3km across navigation channel from FOTCO jetty, clear of existing navigation channel
Close to designated Delivery Point
Compliant with safety standards
Chara Chan Waddio Creek, Mazhar Point, Port Qasim

5. SCOPE OF WORK
FSRU Provider
Provision of new-build FSRU on lease
Operations and maintenance of FSRU
750mmcfd regasification capacity (six x 125mmcfd)
PLTL: 600mmcfd (average over 350 days)
Excess: mmcfd over 175 days
170,000m3 LNG storage
96-percent annual availability
No dry docking for 15-year duration of Contract
Owner’s Engineer
Complete supervision of all technical design aspects
Certification of all completed works

6. Dredging of turning basin Construction of 1.3-km subsea pipeline
SCOPE OF WORK
EPC Consortium
Long-lead items ordered, mechanical completion on May 31, 2017
For PGPC
For FOTCO
Dredging of turning basin
Construction of 1.3-km subsea pipeline
Dredging of approach channel
Construction of 4-km trestle-mounted pipeline
Construction of jetty
Construction of 7-km onshore/underground pipeline
Construction of jetty topside
Installation of gas measurement system

7. PROGRESS / contracts
PGPC has signed/agreed the following contracts with various parties for the timely implementation of the Project:
LNG Operations and Services Agreement with PLTL, July 1, 2016
Agreement for Engineering, Procurement, Supply, Dredging and Construction with the EPC Consortium, July 26, 2016
FSRU Lease Agreement with BW, Aug. 20, 2016
FSRU Operation Services Agreement with BW, Aug. 20, 2016
Schedules to the EPC Agreement, Aug. 30, 2016
Facility User Services Agreement with FOTCO, Sept. 9, 2016
Agreement for Purchase of Loading Arms with BW, Sept. 22, 2016
Supplemental Implementation Agreement (“SIA”) agreed with, and approved by the board of, Port Qasim Authority (“PQA”) to amend the Implementation Agreement of April 2007

8. PROGRESS / studies Layout confirmation
Survey/route selection for subsea and online pipelines
HAZID, QRA assessments by Lloyd’s
Geotechnical, bathymetric, route surveys of site and channel
Fast-time navigation simulation for passage of LNG vessels
Environmental and Social Impact Assessment from SEPA
Environment protection regime, social action plan per WB guidelines
Civil and electromechanical design basis, marine civil specifications
Channel layout and passing-bay assessment
ADCP current measurement
Sedimentation study
Design verification
Pipeline FEED
Full bridge simulation studies conducted by Siport21
Study to measure current velocities
Hydrodynamic modeling for silting/sedimentation behavior after dredging

9. PROGRESS / payments
PGPC has taken significant exposure, and provided requisite advances/deposits/guarantees, including but not limited to:
Operator Guarantee to PLTL $39 million
Performance Guarantee to PLTL $11 million
Security Deposit to BW $2.5 million
Advance for Loading Arms $120,000
FOTCO Mobilization Deposit $4.716 million
PQA Performance Guarantee $1 million

10. PROGRESS / reviews
Process of review and coordination among all stakeholders—
PGPC, FOTCO, XPE, CCCC THEC, CCCC THCC, BW, COWI, PQA,
PLTL, financial institutions—is taking place regularly, in Pakistan
and abroad.
This continued coordination is vital to harmonize all aspects of the Project and achieve timely completion
Recent review meetings
Project Kickoff Meetings, Dubai, Aug
Design Workshops, Dubai, Shanghai, Karamay, Sept. 29-Oct. 3
HAZID/HAZOP Workshop, Dubai, Oct

12. FINANCING STRUCTURE Equity (Subscribed) Rs. 4,293 million
Preference Shares
Rs. 1,500 million
Loan/Sukuk
Rs. 8,517 million
Rs. 14,310 million
Strong JCR-VIS Credit Ratings: “A-/A2” for PGPC (highest for Greenfield Projects), “BBB” for Preference Shares issue, “A” for Sukuk, “Stable” outlook
State Bank of Pakistan approval for remittance of Mobilization Advance and establishment of Letter of Credit in favor or XPE

13. Pakistan GasPort Consortium Limited
For more information:
Mr. Syed Saquib Ali
Vice President, Investment Banking,
Arif Habib Limited
Mr. Muhammad Kashif
Manager Finance,
Pakistan GasPort Consortium Limited