Over a dozen companies want to invest in LNG business

Islamabad Chamber of Small Traders on Sunday said Pakistan can become an energy hub in the region as it borders China and India, two fast-growing and energy-starved nations.

Central Asian and Iranian gas can flow to India and China through Pakistan which is the cheapest route for the both, it said.

TAPI pipeline, a 10 billion dollar project which can transport 33 billion cubic meter gas per day while it will benefit over 1.5 billion people, said Patron Islamabad Chamber of Small Traders Shahid Rasheed Butt.

The pipeline would benefit a billion more if China starts getting the natural gas to spur its economy, he added.

Similarly natural gas from South Paras gas field of Iran will also improve energy situation through a 2775 km pipeline which can also be provided to India.

He said that LNG policy initiated by the government has proved successful and now over a dozen local and foreign companies are interested in LNG business which will transform Port Qasim into an energy hub.

The companies interested in installing regasification facilities include Lucky Group, Sapphire, Hallmore, Engro, Fatima group, Shell, Pakistan GasPort Consortium, Fauji Foundation, Exxon, Qatar Petroleum, Mitsubishi, Total and Höegh LNG.

He said that LNG was the only short-term solution to Pakistan's energy crisis as rest of the other methods to produce energy are either too expensive or too slow.

Previous governments had made several attempts to introduce LNG as a source of energy in the country, but only the PML-N government had succeeded in doing so, he said.