Petroleum Division backs long-term LNG deal
Secretary tells Senate panel on petroleum it will ensure smooth supply
LNG PHOTO: FILE
ISLAMABAD:
With the Pakistan Tehreek-e-Insaf (PTI) government set to open the liquefied natural gas (LNG) market for the private sector to reduce financial risk, a Petroleum Division official has underlined the need for a long-term LNG deal.
The country has already a long-term LNG deal with Qatar. Consumers are forced to consume expensive LNG due to the involvement of government entities in the entire chain.
The private sector has been struggling for several years to import LNG but it has been denied the opportunity due to monopoly of state-run companies despite the fact that the consumers had paid a tolling fee to the LNG terminal for idle capacity. Now, the Petroleum Division secretary informed a parliamentary panel on Monday that there should be a long-term LNG contract for smooth supply.