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Business

February 14, 2018
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Gas imports to match local output in two years: official

Business

February 14, 2018

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LAHORE: The industrial sector is set to be fueled to reach unprecedented levels of production as the import of gas would come at par with the local production within a span of two years, an industry official said on Tuesday.

“[The current] local gas production of 2600 mmcfd (million cubic feet per day) will soon be matched by improved imports, which are imperative for the national development,” Ghiyas Abdullah Paracha, central leader All Pakistan CNG Association (APCNGA), said in a statement.

“Additional gas has helped start LNG [liquefied natural gas] based power plants in Punjab, and improved the supply of gas to the fertiliser, textile and CNG [compressed natural gas] sectors, while load-shedding has also been reduced.”

Paracha said with the recent efforts of the government, the import of LNG has reached 1000 mmcfd.

“As the second liquefied natural gas terminal becomes operational, following a short pause due to technical glitch, the import of gas will increase to almost half of the local production,” he added.

Paracha said it the whole credit of this impressive improvement goes to the determined efforts of the Prime Minister Shahid Khaqan Abbasi.

“Premier’s endeavours have revolutionised the energy sector. These measures will bring an end to the scarcity of electricity and gas, ushering in a new era of national development,” the APCNGA leader said.

He said the improved supply of dependable energy would lead to more industrialisation, boosting production, increasing exports and creating new job opportunities.

“The energy sector, especially the sub-sector of gas, has never received this kind of attention in the last fifty years,” Ghayas said.

He added the Prime Minister was paying special attention to cull energy crisis despite political problems for which the business community is highly grateful to him.

“Pakistan offers great investment opportunities to local and foreign investors in shape of new liquefied natural gas terminals, pipelines, and imports,” Ghiyas said.

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