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Thursday May 30, 2024

Previous govts failed to bring LNG to Pakistan: PM

By Azeem Samar
August 28, 2017

KARACHI: Prime Minister Shahid Khaqan Abbasi has said the present government has introduced a cheaper source of energy in the form of LNG (Liquefied Natural Gas) while the past three governments failed to do so. The PM stated this while inaugurating the Engro LNG Import Terminal here at the Port Qasim on Sunday. The terminal has the capacity for re-gasification of 600 mmscfd LNG being imported to the country.

He said the LNG terminal had been completed in a record time of just 330 days as completing projects in record time periods was also one of the distinctive features of the government. He said the present government had been able to introduce this cheap source of energy in less than 14 months. He said that import of LNG would benefit the economy to the tune of 1.5 billion dollars annually, and would also save precious foreign exchange as LNG would replace the expensive furnace oil. He said that LNG would prove to be a cheaper source for fulfilling the growing energy requirements of the country as compared to electricity production using furnace oil and nuclear energy.

He said there were several reasons behind the failure of the past governments to import LNG, and attempt to import LNG without building the terminal was one of them. The prime minister said the government had built the terminal with support of the private sector. The PM  said the process of bidding for import of LNG was also completed transparently, which was also acknowledged by the international community.

Abbasi said owing to LNG  import, natural gas was now being supplied with least disruption to the CNG sector, fertilizer production units, textile factories and power generation plants. He said so far 100 ships had arrived at the port carrying  6.1 million tons of LNG. Owing to 600 mmscfd RLNG handling capacity of the terminal at Port Qasim, it had become the single largest source of natural gas supply in the country. The second LNG Terminal would start working in November, while three more such terminals would also be built with the support of the private sector. The PM appreciated the participation of private sector in overcoming the country’s energy crisis.