The minister denied claims that Indian crude oil was the source of Russian crude oil while responding to worries being discussed on social media.
An International energy hub will be created in Gwadar, according to Pakistan’s State Minister for Petroleum, by enticing China and Europe to construct LNG plants for the export of super cool gas.
Through this initiative to make Gawadar an international energy hub, Pakistan’s energy sector will be strengthened, and Gwadar will be positioned as a key crossroads for energy trade with China, Europe, and other regions.
“I have already declared Central Asia to be the energy capital of the world,” the minister said in a statement to the media in this city yesterday. “Pakistan wants to be a trading partner with energy-rich Central Asian States, particularly with Turkmenistan for the supply of gas to Gwadar.”
The minister denied claims that Indian crude oil was the source of Russian crude oil while responding to worries being discussed on social media.
Under the assumption that the situation in Ukraine stabilises, he acknowledged the need for both short- and long-term LNG supply agreements over the next two to three years, anticipating a potential surplus due to the expected increase in pipeline supplies of LNG.
Qatar intends to begin operating a third of its entire production by 2026–2027. European Henry Hub deliveries from North America have already started, and there is also an increasing inflow to Asia.
To meet the rising global demand for gas, the UAE is also working to increase its capacity for producing LNG. To meet the rising gas demand around the world, ADNOC, the energy company of the United Arab Emirates, has announced plans to double its LNG production capacity.
Turkmenistan has enormous gas reserves that are almost as large as Qatar’s, according to the minister. We have suggested that Turkmenistan’s gas be brought to Gwadar via pipeline, he said.
According to the minister, Pakistan is the most practical route for supplying gas from Turkmenistan to other parts of the world. For the transportation of Turkmen gas to Europe, “we have proposed the establishment of LNG plants at Gwadar,” he insisted.
As this city is suitable for China, Europe, and other countries to invest in LNG plants and export it, Pakistan wants to entice the world, especially China and Europe, to come and establish their LNG plants there.