A meeting of the Economic Coordination Committee (ECC) of the Cabinet, which was scheduled to be held today to consider exclusive agenda of energy sector today (Friday) from import of additional 200 MMCFD LNG from Qatar has been postponed till next week due to arrival of Malaysian prime minister Mahatir Mohammad.
Sources said a meeting of the ECC to be chaired by Finance Minister Asad Umar was convened with five agenda items of energy sector a couple of days after the first meeting on Wednesday last.
The meeting was convened Petroleum Division's proposals of gas demand projection for short and long term and arrangement of an additional 200 MMCFD LNG from Qatar as well as supply of gas to Tall and surrounding areas of district Hangu. The meeting will also consider and may approve Revenue Division's waiver of penal surcharge on overstayed goods lying in customs warehouses.
The ECC meeting was also to review the status of process for new LNG terminal as in the last meeting Port Qasim Authority (PQA) was directed to complete all formalities for setting up the new terminal expeditiously keeping in view the growing energy needs of the country. Sources added that a decision was taken to set up a new LNG terminal owing to traffic congestion at Port Qasim.
The PQA board identified a specific LNG zone for future LNG terminals at Jharri Greek/Chaan Wadoo as most appropriate area for setting up additional LNG terminal in view of urgency.
Ministry of Maritime, sources stated, also highlighted the need for ensuring uninterrupted supply of LNG in case of war or any other contingency. The need was also underlined to ensure that Floating Storage Re-gasification Unit (FSRU) is not withdrawn by the owner on any pretext whatsoever.
The ECC was requested to approve fast tracking of the additional LNG terminal in the vicinity of Jharri Greek/Chann Wadoo within twenty-four months with a direction to PQA and OGRA to expedite process of grant of licence and that all future terminals would be contracted without any guaranteed payment by the government on build-operate-transfer (BOT) basis.
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