BANGKOK(National Times)- Pakistan is among the worst-hit nations by liquefied natural gas (LNG) disruptions due to the closure of the Strait of Hormuz and could future-proof its domestic energy and power supply by increasing its focus on renewables and coal.<\/p>\n\n\n\n
\u201cQatar and the UAE together supply about 99pc of Pakistan\u2019s LNG \u2014 mostly for power generation, fertiliser production and industrial use. LNG accounts for about 30pc of total gas supply,\u201d said the Gastech Conferences in its report \u2018The Outlook for Gas and LNG Markets in Asia\u2019 released at its 54th annual event.<\/p>\n\n\n\n
It said that beyond addressing immediate challenges, policymakers in Asia may now be reviewing how to future-proof domestic energy and power systems with renewed focus on energy security. This could be done by accelerating renewables, such as swift-build, utility-scale solar, wind farms and commercial rooftop solar, plus storage deployment.<\/p>\n\n\n\n
They would also be looking at speeding up investment in long-term infrastructure, including gas storage and updating power generation mixes and giving gas plants better flexibility.<\/p>\n\n\n\n
Gastech report notes US-Iran war has redrawn global energy maps<\/p>\n\n\n\n
This is where Pakistan\u2019s Universal Gas Distribution Company (UGDC) held discussions with several international firms on potential projects, including gas storage, long-term LNG supplies and gas distribution in overseas markets, its Chief Executive Officer Ghiyas Abdullah Paracha said.<\/p>\n\n\n\n
The Gastech report said the countries were also examining options for expanding operating reserves to ensure grid agility for unexpected events and rethinking fuel stockpiles by expanding strategic stocks for transport fuels and power generation. The nations may also be looking at boosting cross-border power export\/import options to share shortages.<\/p>\n\n\n\n
The report said the Middle East\u2019s fluid landscape \u2014 as demonstrated by the conflict involving Israel, the United States and Iran which began in February and the resultant bottleneck in the Strait of Hormuz \u2014 has redrawn global energy maps in real time and further highlighted the geopolitical sensitivity of gas and LNG markets.<\/p>\n\n\n\n
Gastech noted that gas supply disruptions have prompted Pakistan\u2019s government to look to coal, hydropower, and nuclear power, while price volatility and shipping uncertainty are likely to sharply increase power costs.<\/p>\n\n\n\n
Ghiyas Paracha told journalists that his company received a greater-than-anticipated response at the conference. \u201cWe have got understanding with some companies that have shown interest in building gas storage facilities in Pakistan. Some companies have shown keen interest in long-term LNG contracts with UGDC,\u201d Paracha said.<\/p>\n\n\n\n
Paracha said UGDC\u2019s participation at Gastech was also significant because the company was presenting Pakistan\u2019s gas-sector reforms and the opening of the country\u2019s gas market to private-sector participation at an international energy forum.<\/p>\n","protected":false},"excerpt":{"rendered":"
BANGKOK(National Times)- Pakistan is among the worst-hit nations by liquefied natural gas (LNG) disruptions due to the closure of the Strait of Hormuz and could future-proof its domestic energy and power supply by increasing its focus on renewables and coal. \u201cQatar and the UAE together supply about 99pc of Pakistan\u2019s LNG \u2014 mostly for power […]<\/p>\n","protected":false},"author":2,"featured_media":133278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-133277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest_news","entry"],"yoast_head":"\n