Lahore (PR) The global shift toward a green and optimal energy mix was in focus at the CWC LNG Summit in Lisbon, Portugal.

Pakistan GasPort Limited Chairman Iqbal Z Ahmed informed the participants that LNG, through Floating, Storage, Regasification Units (FSRU), is a transformative fuel and driver for economic growth in Pakistan. The import of LNG in Pakistan through the introduction of FSRU-infrastructure, jetties and pipelines has resulted in a cleaner energy mix with a larger share of gas replacing dirty fuels such as coal and oil. The FSRU-based LNG terminals have also minimised electricity outages and kickstarted flagging industries and sectors such as CNG.

Gas is a base-load fuel compared to renewable energy such as solar and wind. Its cost-economics are much more favourable for large industrial users, including the power sector, as the cost of transportation and storage of furnace oil is much higher than regasified LNG. Additionally, gas-fired power plants are far less prone to obsolescence than refined furnace oil-based ones. Overall, since Pakistan started importing LNG in 2015, it has saved over $3 billion in switchover from oil to gas.