For the first time in history, Pakistan to have underground storage strategic reserves
ISLAMABAD - For the first time in history, Pakistan has decided to built strategic underground gas storage reserves.
The government has initiated work to build gas storage in various parts of the country.
Crrently Pakistan has no capacity to store even a single gas molecule.
“Pakistan’s domestic gas production ranges between 3.8 to 4 bcfd and is importing 1.1 bcfd LNG totaling 5.1 bcfd against the immediate demand of the country that stands at 6 bcfd. By 2020 Pakistan will be having 1.3 bcfd gas from Turkmenistan through $10 billion TAPI.
The LNG in the open market gets cheaper in summer season and it surges a lot in the winter season.”
Idea is, the official said, to store the imported gas in summer season at cheaper rates and utilise it in winter season for keeping the country energised and industrial activity intact.
More importantly in case of disruption in LNG supply chain on account of any Tsunami in the sea or any reason, the gas storages will be used for industrial activities till the time the problem is vanished.
He said that currently gas is stored in pipelines and we can say that pipelines are the gas storages. He said that the TAPI gas pipeline after becoming operational in 2020 can also experience any kind of disruption and in that case, such gas storages can bailout Pakistan.