Karachi: Engro Eximp FZE, a subsidiary of Engro Corporation, announced today that it has entered into a Memorandum of Understanding (“MOU”) with Excelerate Energy, Inc. (NYSE: EE) (Excelerate), a leading provider of flexible LNG infrastructure solutions around the world, related to the development of a private sector gas marketing business in Pakistan. Under this MOU, both partners will jointly evaluate the possibility of establishing a regasified LNG (RLNG) marketing business with maximum participation from the country’s private sector. This initiative has the potential to increase private company participation in Pakistan’s LNG sector and enhance Pakistan’s energy security by opening up new RLNG supply avenues for businesses and consumers. This endeavor comes at a point when the need for energy security has become a critical issue globally, and particularly for Pakistan, against the backdrop of current geopolitical dynamics. Ghias Khan, President & CEO – Engro Corporation stated, “I am delighted that Engro’s collaboration with Excelerate Energy has been strengthened through this agreement, which will help Pakistan meet its energy needs. Our Correspondent
