ECC to decide final price for LNG purchase: NA told

BusinessECC to decide final price for LNG purchase: NA told

ISLAMABAD, Pakistan: Parliamentary Secretary for Petroleum and Natural Resources Shahzadi Umerzadi Tiwana Wednesday informed the National Assembly that Economic Coordination Committee (ECC) would decide the final price for purchase of Liquefied Natural Gas (LNG) under the long term agreement.

“The matter to determine the LNG price is with the ECC and it will take the decision under the long term agreement,” she said while responding to a supplementary question during the question-hour.

At present, she said, 15 LNG cargoes have arrived in the country and it was being used in power, fertilizer and compressed natural gas sectors. She said Pakistan State Oil (PSO) company was importing the LNG after completing all codal formalities and its price varied from $7.5 to $8.6 per mmbtu.

The parliamentary secretary said an agreement for cooperation in the energy sector between the governments of Qatar and Pakistan had been signed.

She said natural gas played a key role in the country’s energy mix which was currently around 50 per cent of its primary energy supplies.

“With rapid economic growth prospects, the demand for gas is projected to increase sharply and the indigenous gas reserves will not be able to the meet this demand,” she added.

Source: APP

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