LNG import to bring economic revolution in country: experts
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."