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Karachi, August 28, 2012 (PPI-OT): India has agreed to provide 200mmcfd of Liquefied Natural Gas to Pakistan through Wagah border for a period of 5 to 7 years.
According to Alfalah Securities Limited, pakistan and India would hold a meeting in this connection in September to finalize the transport of LNG. The step is taken to deal with the ongoing gas shortage to the industries, power and fertilizer sectors. The availability of gas would be favorable for the fertilizers particularly the new plants like Fatima and Engro Enven which get feedstock gas at much low rates.
Earlier, Ogra had allocated pipeline capacity of 500 mmcfd each to Global Energy and Engro and 400 mmcfd to Pakistan Gas Port. Global Energy made commitment to bring the first consignment of 500 mmcfd by the end of June 2012 followed by Engro in December 2012 and Gas Port in the first quarter of 2013. Gas distributors Sui Southern Gas Company (SSGC) and Sui Northern Gas Pipelines Limited (SNGPL) were also directed to invest USD 1.2 to USD 1.4 billion to lay new pipelines.