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Local-LNG blending resolved, exports expected to boost by $3bn

Local-LNG blending resolved
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November 14, 2023 (MLN): The cabinet has resolved the issue of blending local and liquefied natural gas (LNG) for new and old exporters which is expected to contribute an additional $3 billion to exports this year, Gohar Ijaz, Caretaker Federal Minister for Commerce and Industries said in a post on X (formerly Twitter).

“Alhamdulillah, the disparity between new and old exporters regarding the blending of local and LNG has been resolved, as per the recent decision of the cabinet.“ he stated.

The minister said that the resolution of this issue is a significant development that will unleash the 100% capacity of the export industry set up under the Temporary Economic Refinance Facility (TERF).

To note, the TERF scheme was launched by the government in 2020 to provide concessionary refinance for setting up of new industrial units.

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Posted on: 2023-11-14T10:19:38+05:00