Haveli Bahadur Shah sees a bigger LNG profile in Pakistan – experts claim
On Tuesday 11th July 2017, according to the Reuters senior experts explained a process of the Haveli Bahadur Shah LNG power plant would have a bigger profile.
Petroleum Minister Shahid Abbasi said that Pakistan would become one of the world’s top-five buyers of liquefied natural gas (LNG), with petroleum imports. He said, “Imports can jump more than five folds as private companies build new LNG terminals.”
He told Reuters, “If these plans are fully implemented, it will shake up the global LNG market,
“The imports will be top 30 million tonnes by 2022, up from just 4.5 million tonnes currently.”
While giving the briefing to Prime Minister Mian Muhammad Nawaz Shrief about the project Abbasi said, “Within five years, I don’t see any reason why we should not be beyond 30 million tonnes (in annual LNG imports). We will be one of the top five markets in the world.”
It would always possible, but seem very difficult as they would need much more capacity and downstream pipeline capacity, said by Trevor Sikorshi at Energy Aspect, a London-based industry market researcher.
“There are infrastructural issues and financial issues.
“Still, it is one of the key LNG growth markets, and its demand will help tighten up the market that has threaten to lurch into oversupply.”
He further stated that the foreign suppliers were arriving Pakistan where energy shortages had prompted Prime Minister Nawaz Sharief to promise he would end the country’s frequent blackouts.
Abbasi told, “Before, we used to go out to talk to LNG suppliers. Now they’re coming to us.
“LNG really what has saved the whole energy system.
“It has been a huge success in Pakistan and it will continue.”
Earlier that week Prime Minister Mian Muhammad Nawaz Shrief inaugurated a new Chinese built LNG power plant that uses General Electric (GE. N) turbines.
Pakistan built its first LNG terminal in 2015 and after some delays, a second terminal is due to come online in October, doubling annual import capacity to about 9 million tonnes.
Reporter: Syeda Faiza Bukhari