33 Cargoes Carrying 103,864,259 Mmbtu LNG Arrived In 12 Months


33 cargoes carrying 103,864,259 mmbtu LNG arrived in 12 months

ISLAMABAD,(UrduPoint / Pakistan Point News - 4th Augst,2016) : As many as 33 cargoes carrying around 103,864,259 mmbtu Liquefied Natural Gas (LNG) have arrived in Pakistan since July 2015, official sources in the Ministry of Petroleum and Natural Resources said Thursday. "The LNG is being imported by the Pakistan State Oil under competitive bidding and through short and long term contracts, while more LNG terminals will be set to enhance Pakistan's LNG import capability," they told APP. Nowadays, they said, LNG was the essential part of the energy mix needs of emerging economies, adding that the world was turning towards LNG and emerging economies such as China, Korea, Japan, India, Thailand, Indonesia, European Union, and Brazil to ensure LNG remains part of its energy mix, they told APP. They said Japan was importing 80 million tonnes of LNG every year (MTPA) and India 15 MTPA due to the commodity's cheap price and efficiency as compared to other fuels.

In 2015, they sources said, Pakistan signed a 15 year agreement with Qatar to import up to 3.75 million tonnes of LNG a year, which was being highly appreciated by the business community. The country's total gas production is around 4bcfd (billion cubic feet per day) against the demand of 8 bcfd, showing a demand- supply gap of four bcfd. Justifying the LNG import deal, they said in Pakistan natural gas accounts for 35 percent of all power generation, 23.8 percent of industrial use, 15.6 percent fertilizer, 5.4 percent CNG, and 18.1 percent of the household use.

The current gas shortfall is about four bcfd or 33, they said and added that Pakistan's indigenous gas supply was expected to deplete to 1,500 MMSCFD in 2030 (from 4,000 MMSCFD today) and the demand supply gap is expected to reach 7,000 MMSCFD in the next 15 years as the existing gas reserves are depleting fast.