Import of LNG volume may reach 6.5 million tons per annum
Pakistan is to take public sector Liquefied Natural Gas (LNG) import to 6.5 million tons per annum from current level of 3.25 million tons per annum by the end of December 2017 while within the next three years country”s imported gas volume may reach 16.25 million tons per annum. At present, Pakistan”s imports are too low and we have little leverage to tweak the deal signed with Qatar in February 2016, sector experts told Business Recorder.
This is in marked contrast to India which is importing 8.5 million tons from Qatar under a long term contract out of its total imports of 13 million tons; or India”s reliance on LNG imports from Qatar is to the tune of 65.3 percent. According to sources privy to the developments , Pakistan is to complete 4 LNG terminals within the next three years of which one is in the public sector while three would be in the private sector with a capacity of handling 600 MMCFD each. Officials said that within the next three years Pakistan”s total LNG imports are likely to reach 3 billion cubic feet per day (BCFD).
Sources said that Pakistan GasPort Consortium Limited (PGPC) which is executing the country”s 2nd LNG terminal is considering constructing another LNG terminal after the completion of the first which has been delayed but is still scheduled to become functional in December.
Engro group is set to build another LNG terminal while a group of local businessmen will install a fifth LNG terminal with a handling capacity of 600 MMCFD or 3.25 million tons per year. This group would market for its clients, which reportedly include cement, chemical, power, textile mills and auto sector.