In a historic first, Pakistan allows its private sector to import Liquefied Natural Gas (LNG) as the oil and gas regulatory body has Tuesday issued import licenses to at least two companies.
Pakistan’s Oil and Gas Regulatory Authority (OGRA) has reportedly issued today 10-year term LNG importing licenses to at least two private sector companies. The authorities claim private sector import will encourage competition in the market hinting that it will likely bring down prices of the utility.
There has not been any precedence of Pakistan allowing LNG import privately. Separately earlier last week, OGRA also approved K-Electric’s application for a license to construct and operate a gas pipeline to supply Re-gasified Liquefied Natural Gas (RLNG) for the upcoming RLNG-based 900 MW BQPS-III power plant.