The closure of the existing floating storage and regasification unit (FSRU) at Engro LNG Terminal for dry-docking has brought on a gas supply crisis in the country.
The gas crisis has also caused load shedding in several parts of the country and led to interruptions in industrial activities. However, according to Special Assistant to the Prime Minister on Power and Petroleum, Tabish Gauhar, it will be resolved soon.
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The SAPM said that a ship has arrived, which will start LNG regasification in the next three to four days. He made these remarks while addressing the industrialists during his visit to Federation House.
Pakistan does not have LNG storage capacity so far, he said, adding that it is a policy failure. The successive governments did not bind terminal operators at the time of issuance of licenses to have at least 10 to 20 days gas storage facilities.
Gauhar said that nearly Rs. 330 billion has been collected under the GIDC so far, and it should be utilized for gas-related infrastructure development.
He also informed that the incumbent government is planning to form a company to establish LNG storage facilities in the upcoming few years with the private sector’s involvement.
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For this purpose, 51 percent of funds can be taken from GIDC, and 49 percent of funds can come from the Private sector, the SAPM said, adding that the storage facility will help Pakistan import cheaper gas when needed.
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