Islamabad -  The Islamabad Chamber of Small Traders (ICST) on Tuesday said completion of second Liquefied Natural Gas (LNG) terminal in record time is a great achievement of the government which will reduce the gap between demand and supply of natural gas.

Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt said that the development will improve production of the industrial sector, boost exports as well as employment and improve revenue which it will also help the government push up the GDP, said a press release here Tuesday. LNG is the cheapest and cleanest fuel which will benefit masses and the industrial sector while the government and private sector should also establish LPG terminals to benefit people of far-flung areas.

Shahid said that the newly-inaugurated LNG terminal will start supplying gas to three LNG-based power plants in Punjab to help reduce electricity loadshedding, while it will also boost LNG imports from 600 mmcfd to 1,200 mmcfd. The third terminal will be operational by the end of next year, while the country will be importing 30 million tons of gas for the next three years.

He said that there is still room for local and foreign investment in the LNG sector, as the existing facilities cannot bridge the gas shortfall, while there is a dire need to urgently establish LPG terminals.