Minister for Petroleum, Ghulam Sarwar Khan, has hinted at setting up a storage facility for liquefied natural gas (LNG) to maintain the strategic stocks of the commodity and fulfill the energy requirements of the country.
While giving an interview to the state television, the minister said that Pakistan has reservoirs of petroleum products but no LNG storage facility, which is beyond comprehension.
“LNG comes straightway from the vessel, shifted to the terminal and injected to transmission lines directly for onward supply to consumers. Sometimes it (LNG) can be in surplus or otherwise. The country should have LNG stocks,” he said.
The minister also said Saudi Arabia has also offered to assist in the construction of LNG reservoirs. Notably, the Kingdom is also expected to sign a memorandum of understanding (MoU) with Pakistan on the establishment of a mega oil city in Gwadar.
Nevertheless, Sarwar also said that the Kingdom has also shown interest in investing in numerous fields like fertilizer, mineral, wind, and solar energy.
While answering a question, he said that it is a task for the new government so that the petroleum sector becomes part of the China-Pakistan Economic Corridor (CPEC) project. After this development, a mega oil city that will include oil refineries and petrochemical complex is being established at the deep-sea port.