GWADAR: Pakistan Gas Port Limited, Al-Qasim Gas and Jamshoro Joint Venture Limited have formed a special purpose vehicle, Gwadar Gas Port Limited, for moving LNG onto trucks for re-gasification at various industrial sites across Pakistan.
In a signing ceremony signed with Gwadar International Terminals Limited, GGPL will commence engineering work at the existing Berth 3 at the Gwadar port for shipment of LNG from a Floating Storage Unit on to trucks for shipment to CNG stations, textile mills, fertiliser plants and other such large commercial and industrial units across Pakistan. The same concept underpinning this 'virtual pipeline' wherein there is no gas pipeline of Sui companies required, and as a result there will be no unaccounted-for-gas as is the case with the two Sui companies, is seamlessly working in countries such as China, Turkey, and India.
'This is a major initiative in the private-sector to revolutionise the gas sector in Pakistan', noted Chairman GGCL, Iqbal Z Ahmed. 'With no Governmental off-take guarantee or investment, the private-sector to private-sector sales will cut the red-tape and cater better to the market forces.'
As the gas gap in demand and supply is expected to spiral beyond 2 BCF owing to rapid urbanisation, CPEC projects, and industrial growth, the virtual pipeline project initiated by GGPL will help mitigate the brewing gas shortages and also transform the gas sector by transitioning away from the present monopoly of Sui companies to a competitive environment.
Captain Dai of Gwadar International Terminals Limited lauded the milestone marked at a modest signing ceremony, following COVID-19 safety measures, to bring LNG at the Gwadar port by using the Chinese-operated port as a hub for deliveries to Karachi and the other main centers of consumption in Quetta, Lahore, Peshawar, Sialkot and Faisalabad.-PR
Copyright Business Recorder, 2020
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