LNG im­port to bring eco­nomic rev­o­lu­tion in coun­try: ex­perts

The Pak Banker - - BUSINESS -

LNG im­port would help sup­port govern­ment to over­come the en­ergy crises. This was stated by ex­perts while ex­press­ing their opin­ions re­gard­ing sign­ing of agree­ment be­tween Pak­istan and Qatar re­gard­ing im­port of LNG.

Dr. Mif­tah Is­mail (Chair­man BOI) said, Pak­istan was hav­ing the cheap­est LNG ter­mi­nal in South Asia. By hav­ing two or more such ter­mi­nals, he said, Pak­istan would be able to over­come the short­ages com­pletely. Qatar would also build a 1320MW ter­mi­nal that would re­sult in overcoming en­ergy cri­sis and would bring an eco­nomic rev­o­lu­tion in the coun­try, he added.

Govern­ment of Pak­istan was es­tab­lish­ing such poli­cies that it could at­tract more in­ter­na­tional in­vestors in this sec­tor, he said. Maiza Hameed (Leader PML-N) said, "The credit of sign­ing agree­ments and MoUs with Qatar for the im­port of cheap LNG goes to PM and the present govern­ment. LNG would def­i­nitely ben­e­fit the en­tire coun­try as it would ful­fill the gas and power short­ages in in­dus­trial and com­mer­cial sec­tors, she added. Present govern­ment was mak­ing ut­most ef­forts to im­prove its trade and bi­lat­eral re­la­tions with all coun­tries of the re­gion. Fauzia Nas­reen (For­mer Am­bas­sador) said, "It is a pos­i­tive de­vel­op­ment that Pak­istan has signed cer­tain agree­ments and MoUs with Qatar." Un­der the LNG deal, she said, Pak­istan would im­port 3.75 mil­lion tons of LNG an­nu­ally from Qatar which would ful­fill 20 per­cent need of Pak­istan. Dr. Gul­faraz (En­ergy Ex­pert) said, "Pak­istan has signed four agree­ments with Qatar to in­crease co­op­er­a­tion in di­verse fields be­tween the two coun­tries. Ac­cord­ing to the agree­ment Pak­istan would im­port LNG from Qatar at pro­rate of 2.25 mt and it was a big achieve­ment of the present govern­ment, he added.

The agree­ment, he said also pro­vided for an­nual up­ward and down­ward flex­i­bil­i­ties up to three LNG car­goes per con­tract year. The LNG would be uti­lized to over­come gas short­age and pro­duc­tion of cheap elec­tric­ity; Cur­rent re­serves of gas in Pak­istan ful­filled 48% of the re­quire­ment and the re­main­ing would be ful­filled through LNG, he de­lib­er­ated. Con­tin­u­ing he said, present govern­ment was mak­ing all out ef­forts to ini­ti­ate Pak Iran gas pipe­line pro­ject with­out wast­ing more time which was a pos­i­tive ges­ture."

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