STAFF REPORT KHI: Engro Elengy Terminal Private Limited (EETPL) and Sui Southern Gas Company (SSGC) have signed Liquefied Natural Gas (LNG) Service Agreement (LSA) in line with the Federal Cabinets approval for the LNG import infrastructure project.
Minister of Petroleum and Natural Resources Shahid Khaqan Abbasi said, “In order to combat the energy deficit, we are working on developing an efficient and sustainable power generation, transmission, and distribution system that can cater to the demands of the country and boost our economy”.
Sheikh Imran ul Haque, Chief Executive Officer of ETPL, said LNG import is the fastest short-term solution to Pakistans crippling economic needs.
Pakistans existing gap between gas supply/demand is approximately 1.6 billion cubic feet per day (bcfd). At the current rate of consumption, it is expected Pakistan will run out of gas in less than 20 years, hence it is imperative to look for the alternative source of gas in and around Pakistan.
The infrastructure of the terminal has to be constructed in 335 days. Once completed, the project will process imported LNG and inject 400 mmcfd gas to the national network, which will reduce the existing shortage of 1.6 billion cubic feet by one-fourth.
Importing LNG will enable the government to save significant foreign exchange through import substitution of oil and alleviate the energy crisis plaguing the country.