Pakistan LNG needs to increase threefold over next three to five years

Image courtesy of Pakistan LNG (Image is cropped)

Pakistan’s demand for liquefied natural gas (LNG) could be set to triple in the next three to five years, according to Pakistan LNG’s chief executive.

According to a report by Reuters on Wednesday, data from Refinitiv Eikon shows Pakistan imported nearly 7 tonnes of LNG last year.

Adnan Gilani, managing director and chief executive of Pakistan LNG, said that those figures could grow to as high as 15 million tonnes this year and up to 25 million to 30 million tonnes over the next three to five years.

Both of the country’s existing LNG terminals are currently nearly fully utilized with final investment decisions expected to be made for another two in 2019.

According to Gilani’s presentation at a conference in Singapore, the country’s two import terminals have a capacity of 1.2 billion to 1.3 billion cubic feet of gas per day, or about 9 million to 10 million tonnes of LNG a year.

He added that Pakistan was expected to negotiate a few more long-term contracts to import LNG into the country.

It is worth noting that Pakistan is currently facing a serious energy crisis with blackouts and gas supply outages that led to the sacking of heads of two main gas distribution companies in January.

 

LNG World News Staff

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