Port Qasim conducting LNG zone study | CustomNews.pk

Port Qasim conducting LNG zone study

ISLAMABAD: Port Qasim Authority (PQA) is embarking upon LNG zone study to decide where to give areas to the private sector LNG terminals at the port which could have a very nominal impact on the normal traffic of trade activities and transports. Chairman of the Port Qasim Authority (PQA) Asad Rafi Chandna said this at a panel discussion in a one day international conference titled “Oil & Gas, Igniting Growth..” organised by Byco petroleum and Jang group of newspapers here Monday. He said Port Qasim has six to seven terminal operators’ proposals and they have already applied for it and are in advance stages. They have been given provisional NOCs. We are looking at their accommodation at the same place. In 2011, Port Qasim board asked the authority for conducting the study regarding exclusive LNG zone with specific instruction that there should minimal impact on the normal trade traffic. Fadi Mitri, CEO of Trafigura Pakistan, said that Trafigura is an international independent energy and commodity trading company and we have revenue of $180 billion. When look at Pakistan we see a lot of growth potential for private sector LNG imports for private sector consumers in Pakistan this is what we see as the greatest growth potential for the Pakistani energy gas market. Trafigura several years ago invested in second re-gas terminal in Pakistan as minority shareholder. As far as we are concern, we think that Pakistan is one step away, a very small step away from allowing private sector LNG import. After the modalities are agreed upon then we would be able to import private LNG cargo and sell it to consumers without help of guarantees and support of subsidy of the government of Pakistan. It would give a strong signal to investors and they would start investing. He further said that we need to make it very easy for international investors. CEO Pakistan LNG Limited (PLL) Adnan Gilani said that PLL is Pakistani state-owned company which is procuring LNG from world market at the best prices. With the increased demand for energy, Pakistan offers huge opportunities for investors to invest in this sector. Anser Ahmed Khan, CEO Energas said we have to rationalise the costs. Pakistan is the eighth largest LNG market. Opportunity is there, I think as a country we have to realise how we can open up the market. There are 11 suppliers controlling 80 pc of world LNG, we need to encourage these major volume holders to help Pakistan. Interesting thing about Pakistan is that there are six to eight companies who want to set up LNG terminals, allow them all. It is beneficial for the country. Taimur Khan, Chief LNG, Chemicals & New Ventures Hascol said that unaccounted for gas (UFG) should be controlled and improve efficiencies of the gas network. We have to go for competitive environment and allow private sector. It would lead to reducing inefficiency too. It need political well and corrective measures are needed. Christophe Miaux, Total Gas Division Project, said that Total is a major oil and gas [LNG] player. We are interested in Port Qasim LNG zone and want to set up terminal. Nadeem Nazeer, CEO Pakistan LNG Terminals Ltd (PLTL) said that we would ask the private sector to come forward. We need to recognise that LNG is new to Pakistan regulations would open up, the sector would grow with private partnership.
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