KARACHI: Ghiyas Abdullah Paracha, Central Chairman APCNGA said that ECC and the Cabinet has decided to allow the private sector to use unutilised and excess capacity of existing LNG terminals to overcome the shortfall, reduce price and invite local and foreign investment.

The brilliant move will reduce the shortfall in winter and provide relief to masses and the business community facing problems for years, he said.

Praising the role of Special Assistant to Prime Minister Nadeem Babar and Secretary Petroleum, he said that their efforts have attracted global energy operators like Qatargas, ExxonMobil, Shell, Mitsubishi, Trafigura, Total Pakistan, and Vitol to emerge as suppliers of gas.

Similarly, GasPort, Energas of UK and Tabeer a wholly-owned affiliate of Mitsubishi Corporation is interested in establishing two new LNG terminals to help bridge the shortfall, he informed.

Ghiyas Paracha said that UGDC with its complete legal framework for import and supply gas to consumers is looking forward to start the operations to provide gas to almost 700 CNG stations and other consumers.

He informed that Bangladesh copied Pakistani model in 2016 and now the system is working well there but it was delayed in Pakistan due to some reasons.

Special Assistant to Prime Minister Nadeem Babar on Wednesday said decisions of the Prime Minister Imran Khan is to revolutionise gas sector sooner than expected.

The move of the government will bring the perpetual gas crisis to an end triggering economic activities as many foreign and local companies have decided to invest in gas supply, construction of new terminals and pipelines, he said while speaking at a function.

He said that the massive investment will make gas affordable and abundant, it will boost production, exports, employment and improve the environment, he said, adding that gas will reduce the import bill and pave way for industrialisation.

The SAPM said that coal replaced muscle power to be replaced by oil but now the gas will rule the energy landscape for few decades before the renewables take over.

He said that import of gas by private sector is a matter of weeks which will provide relief to them, pressurise state-run companies to improve while the government will buy the excess gas.

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