Strategy afoot to construct gas storage facilities, increase oil stock capacity
The storage capacity for both the MS and HSD oil increased from 1,712,691 MT to 1,936,550 MT.
(APP) – The government has been working on a multi-pronged strategy to construct gas storage facilities, which the country lacks for smooth supply of the commodity, especially during peak winter and summer seasons.
A feasibility study has already been started to set up the storage facilities after experts predicted that the gas supply system will expand from existing five billion cubic feet (bcf) to seven bcf in the next two to three years, a senior official privy to petroleum sector developments told APP.
“Currently, we have the system of five bcf gas. The demand will increase to seven bcf in next two to three years, but we have no gas storage system, and that is a major problem for us,” he said.
The official said gas demand and consumption was increasing with each passing day, which was being met through import of Liquefied Natural Gas (LNG) and domestic production. “So, there is a need of having proper storage facilities which will be established in collaboration with China.”
Accordingly, he said Pakistan has requested the Chinese government to incorporate this scheme in the China Pakistan Economic Corridor (CPEC) projects.
Replying to a question, the official said overall storage capacity of Motor Spirit (MS) and the High Speed Diesel (HSD) oil has witnessed around 13.07 per cent increase during the fiscal year 2018-19 as compared to the corresponding year.
The storage capacity for both the MS and HSD oil increased from 1,712,691 MT to 1,936,550 MT during the period under review.
The MS oil storage capacity was enhanced from 490,408 Metric Ton (MT) to 594,299 MT, showing 21.18 per cent increase during the period under review.
The HSD oil storage capacity expanded from 1,222,283 MT to 1,342,251 MT, projecting 9.81 per cent increase.
