Pakistan to build mega strategic reserves under the CPEC project.
The government is working on a multi-branched strategy for building the gas shortage facilities, which the nation lacks for smooth supply of the item, especially during the peak summer and winter seasons.
Under the strategy, a feasibility analysis had already been commenced for building the storage facilities after the professionals predicted that the gas supply system would be expanded from the current 5 billion cubic feet to 7 billion cubic feet during the next 2 to 3 years, as per a senior official aware on the developments of the petroleum sector.
He said that presently they have a system of 5 billion cubic feet gas. The demand would surge to 7 BCF in the span of the next 2 to 3 years, however, there is no gas storage system, which is a significant issue.
He informed that the consumption of gas and its demand is increasing on a per-day basis which was being achieved via the import of the Liquefied Natural Gas—LNG and the local production. He added that there is a need for proper storage facilities that would-be built-in collaboration with China.
The senior official also said that Pakistan had asked the Chinese government to incorporate this scheme in CPEC projects.
While responding to a question, the official said that the overall storage capacity of the Motor Spirit—MS and High-Speed Diesel—HSD oil had experienced nearly 13.07percent surge during the financial year 2018-19 in comparison of the corresponding year.
The storage capacity for both the HSD and MS oil had surged during the span under review.