Pakistan has Imported 10mn mt of LNG Since 2015: Report

Pakistan has imported a total of 10 million metric tons of LNG since it began importing the commodity three years ago, according to local Pakistani media report.

Around 80% of the import has been under long and medium-term agreements, and the remainder from spot markets, Dawn reported June 14 citing a source. The start of commercial operations of three new gas-fired power plants — Haveli Bahadur Shah, Bhikki and Balloki — with a total capacity of 3.6 GW in Punjab will further increase the demand for LNG in future, the source said. “Though a second terminal has also become operational at Port Qasim, Pakistan needs three to four more such facilities to address the ongoing energy shortage,” he said.

Pakistan's first LNG import venture became operational in March 2015, with Exquisite on charter from US shipowner Excelerate at Port Qasim, near Karachi, providing the infrastructure. The second terminal, also at Port Qasim, became operational last year.

However, Pakistan’s LNG sector has been mired in controversies lately. Pakistan’s anti-corruption agency National Accountability Bureau (NAB) June 6 approved an inquiry against former prime ministers Nawaz Sharif and Shahid Khaqan Abbasi over alleged misuse of power in allotting an LNG terminal project contract while Pakistan’s Senate Standing Committee on Petroleum June 7 sought full details of the Qatar LNG deal from country’s petroleum ministry.