ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) has achieved final milestone while issuing licences for construction and operation of pipeline, being the last leg of LNG supply chain to M/s Energas Terminal (Pvt) Limited and M/s Tabeer Energy (Pvt) Limited under the provisions of the OGRA Ordinance 2002, and NGLR, 2002, for carrying out the desired regulated activities.
Earlier, the Ogra granted licences for LNG Terminal with the capacity of 750-1,000 mmcfd each and sale of Regasified Liquefied Natural Gas (RLNG) licences.
The Ogra has processed these licenses on a fast-track basis amid the Covid-19, which has affected working of all organisations.
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All licensing formalities have been completed in the minimum possible time enabling companies to install their facilities and bring RLNG in the country.
Once the licensed facilities completed and made operational by M/s Energas Terminal (Pvt) Limited and M/s Tabeer Energy (Pvt) Limited, Pakistan will have an additional supply of 1,500-2,000 mmcfd of natural gas for industrial and other customers.
This activity will bring huge investment in the RLNG sector, competition in the gas market, creates new job opportunities directly and indirectly by operation of closed and new industries, thus, will play a vital role in economic boost of the country.
The Ogra has granted these licences for effective implementation of the federal government’s policies and its vision for competition, increase private investment and ownership in the midstream and downstream oil and gas industry of Pakistan, while protecting public interest and at the same time, provide effective regulation.
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In this effect, the Ogra, in the recent past, has granted licences to private sector such as LNG virtual pipeline licences to M/s Daewoo (Pvt) Ltd and LNG Easy (Pvt) Ltd, and sale of RLNG licences to Trafigura, and Shell Energy.
Ogra spokesman Imran Ghaznavi said that the Oil and Gas Regulatory Authority is determined with its Vision and consistent with the Federal Government’s policy to contribute towards growth of the energy sector of Pakistan and ensure that the energy market is easily accessible, competitive and profitable for a prosperous Pakistan.
Copyright Business Recorder, 2021