A private consortium of United States companies has proposed an integrated liquefied natural gas project worth up to $4.4 billion at Port Qasim, according to a Dawn report published on 2 November. The proposal covers imports, storage, regasification, transmission and merchant sales to large consumers.

What the project would build

The consortium comprises Global Vision Energy Partners and Khanjee Holdings, described as related firms, alongside Luxembourg-based General Mediterranean Holding and strategic co-investors. The first phase, costed at $1.7 billion, would be an LNG import, storage and regasification terminal at Port Qasim with four tanks of 140,000 cubic metres each, giving 560,000 cubic metres of storage. The second phase would add a pipeline of about 1,100 kilometres, with capacity of around 1.2 billion cubic feet a day, bringing the total to $4.4 billion.

Where the proposal stands

Dawn reported the sponsors have Port Qasim Authority consent for the site and have applied to the Oil and Gas Regulatory Authority for a provisional licence, and that the project has been approved for consideration under the US Trade and Development Agency's project preparation programme. Possible financing from the US Development Finance Corporation and export credit guarantees from the US Export-Import Bank are potential channels, not confirmed commitments. No final investment decision, construction contract or binding equity commitment has been announced, and no Ogra decision on the licence has been published.

Why it matters, and its limits

The proposal follows the withdrawal of Energas, an earlier frontrunner involving the Lucky Group and QatarEnergy, which abandoned a similar project over energy policy and unresolved fiscal issues. A storage hub could give Pakistan a larger gas buffer, but it would not close this winter's supply gap: it is infrastructure, not a supply contract.

Sources: Dawn report via KhabarWire, 2 November 2026; Customs Today, 2 November 2026.