KARACHI

Minister for Petroleum & Natural Resources Shahid Khaqan Abbasi has said that LNG is a game-changer and the viability of Pakistan’s energy future is directly linked to LNG.

“If Pakistan had committed to LNG some years back, we would not have had the gas crisis today. LNG is the only cost-effective solution for Pakistan’s energy problems,” the minister said while speaking as chief guest at seminar organised by Petroleum Institute of Pakistan (PIP) on the topic of “LNG Outlook in Pakistan” here on Monday, at PSO House auditorium.

Minister for petroleum & natural resources further said that LNG imports in Pakistan will be linked to oil as we are displacing oil products. LNG price at 14% Brent of $40 would be $5.6 per MMBTU. “With LNG coming in on sustainable basis the annual fuel savings will exceed $2 billion,’’ he said. He dispelled reasons for criticism since Pakistan would not be at a loss with the deals the government is entering into. He also invited viable solutions if the LNG deals were not considered feasible by anybody.

Shahid Khaqan Abbasi also gave a presentation on the energy situation in the country explicating the different aspects of LNG import in Pakistan and future plans of the government.

The seminar was attended by senior officials of the energy community as well as foreign missions, representatives from the government of Sindh Energy Department, Oil & Gas Regulatory Authority and media. Dr Miftah Ismail, MOS/ Special Assistant to the Prime Minister/Chairman Board of Investment, also attended the event as a guest of honor.

Five topics were presented in the seminar by senior officials. S Imran ul Haque, MD PSO & Chairman PIP shared with the audience the current LNG import structure and challenges while Mobin Saulat, MD ISGS, spoke on gas infrastructure projects. Agha Jan Akhtar, Chairman PQA, highlighted the ports handling capacity challenges, Asim Tirmizi, Project Director (LG) SSGC, presented the infrastructure planning required to handle imported gas, and Kashif Siddiqui, GM LNG SNGPL, spoke on the LNG distribution plans and infrastructure development.