LNG imports
While we await greener technology, long-term cost effectiveness may prove case for LNG over other fuels
With growing population, industry and development, there appears a surge in demand for gas and energy. Pakistan currently struggles with a gas deficit, which has been the case for years, with a shortage of three billion cubic feet per day. It is well-received then that foreign firms supplying liquefied natural gas (LNG) are following the Pakistan market closely as it is predicted to become among the top three importers up from the sixth position last year. With a need of seven billion cubic feet per day, we will require help to meet the country’s daily requirements with the aim of facilitating day-to-day trade operations.
There are several cases for LNG. Interruptions in economic progress are regularly owed to disturbances in energy supply, be it fuel shortages in transportation or gas to power machinery. LNG will reduce this burden, especially with respect to transport. It is also practical with the utilisation of our ports and infrastructure of import terminals. The LNG terminal at Port Qasim in Karachi provides a basis for growth for any company that seeks to enter the Pakistan market. Furthermore, agreed tariffs and prices of crude oil are expected to rise and thus, LNG provides a decent and timely alternative to meet current and future demands.
Although not without nuance of leaving some impact of greenhouse gases, increasing LNG availability in the country is a step in the right direction. We support the shift away from the use of fossil fuels for energy due to the massive carbon footprint left behind. History tells us that a major driving force for projects to come to fruition is political will and former petroleum minister and Prime Minister Shahid Khaqan Abbasi has demonstrated the will for this transformation. While we await even greener technology, long-term cost effectiveness may prove the case for LNG over other fuels. Pakistan has vowed to adopt greener policies for climate change and must keep the momentum going by investing in the right projects.
Published in The Express Tribune, March 11th, 2018.
There are several cases for LNG. Interruptions in economic progress are regularly owed to disturbances in energy supply, be it fuel shortages in transportation or gas to power machinery. LNG will reduce this burden, especially with respect to transport. It is also practical with the utilisation of our ports and infrastructure of import terminals. The LNG terminal at Port Qasim in Karachi provides a basis for growth for any company that seeks to enter the Pakistan market. Furthermore, agreed tariffs and prices of crude oil are expected to rise and thus, LNG provides a decent and timely alternative to meet current and future demands.
Although not without nuance of leaving some impact of greenhouse gases, increasing LNG availability in the country is a step in the right direction. We support the shift away from the use of fossil fuels for energy due to the massive carbon footprint left behind. History tells us that a major driving force for projects to come to fruition is political will and former petroleum minister and Prime Minister Shahid Khaqan Abbasi has demonstrated the will for this transformation. While we await even greener technology, long-term cost effectiveness may prove the case for LNG over other fuels. Pakistan has vowed to adopt greener policies for climate change and must keep the momentum going by investing in the right projects.
Published in The Express Tribune, March 11th, 2018.