Shahid Khaqan Abbasi inaugurated first LNG terminal
28 August, 2017
KARACHI: Prime Minister Shahid Khaqan Abbasi Sunday inaugurated Pakistan's first Liquefied Natural Gas (LNG) terminal at the Port Qasim.
It was Pakistan's first LNG terminal established by Engro Terminal Limited within a record time period of 330 days and a capacity to re-gasify up to 600mmscfd.
Speaking at the ceremony, the prime minister said that the government brought this inexpensive source of energy to the country in record time.
He said the previous three governments made several attempts to introduce LNG source of energy but failed.
Within eleven months of the contract signed, the terminal started functioning which was an example of cooperation between the government and the private sector, he added.
The prime minister said other sources of energy like oil, hydro and nuclear were considered as expensive means as the country required an integrated and efficient source to overcome its crippling energy needs.
The bids for the whole process were completely transparent and world acknowledged the government's efforts in this regard, he added.
He said the world was thinking that the project would take several years but the government succeeded by introducing the LNG-based energy. The prime minister said within the short span of the
PML-N government, the first LNG terminal system had started working. The completion of terminals was necessary for supply of energy, he said and thanked the authorities for making the task possible.
He said no terminal in the world had been completed in the shortest time with full re-gasification facility.
The prime minister said the terminal has so far handled 100 LNG cargo ships with 6.1 million tonnes of LNG. It would benefit power, fertiliser, textile and other industries from huge supplies of Regasified Liquefied Natural Gas (RLNG), he added.
He said with capacity to inject 600mmscfd RLNG in the system, Engro terminal emerged as the single largest gas source in Pakistan.
With the supply of RLNG, the country was saving about $1.5 billion each year when compared with other expensive energy resources like diesel or furnace oil, he added.
The prime minister said with supply of RNLNG, the CNG sector had been revived with ample supply of power for the fertiliser industry.
He said the second terminal would start functioning in November this year followed by at least two other terminals in the private sector. The prime minister said it was a good step for the private sector to participate and build their own terminals keeping in view the largest demand and market. Expressing his confidence, the prime minister said Pakistan energy issues would be resolved soon and termed the inauguration of the terminal a great success in the right direction.
It was Pakistan-led and -owned project for energy solution which was made possible within shortest time when compared with other countries of the region, including Bangladesh.
Later, the prime minister speaking at another briefing ceremony of PGP's LNG project terminal, said that it would be inaugurated in November this year.
He said the government was fixing the power crises of the country and soon the load-shedding would be a thing of the past. He said it was all possible due to the huge contribution by LNG sector and referred to Engro terminal with re-gasify capacity of 600mmscf and 100 per cent capacity by utilising 4.5 million tons of LNG.
The prime minister expressed his confidence that soon in 2018, the terminals in the country would be able to utilise 9 million tonnes of LNG for the next five year.