LNGFlex Limited, an Islamabad-based company operating in the oil and gas sector of Pakistan, has announced that it has received a provisional license for setting up an LNG Virtual Pipeline from the Oil and Gas Regulatory Authority (OGRA) after successful completion of application formalities, said an official press release issued by the company.
The Virtual Pipeline business envisages efficient procurement of LNG from global sources and aims to provide a guaranteed and uninterrupted supply of gas round the year at the consumer’s doorstep. The project is being developed at the sponsors’ own cost and risk with no guarantee and reliance on public money.
According to the official announcement, the project will eliminate the use of the already full-to-capacity transmission and distribution network of Sui companies. Consumers in industrial, shipping, and other markets will benefit from the alternate LNG supply and it will also lessen the burden on the existing gas supply infrastructure.
Natural gas is the cleanest form of fossil fuel and is expected to be the dominant fuel as Pakistan accelerates towards rapid industrialization and urbanization in the coming years. According to the company, the grant of the LNG Virtual Pipeline license is a testimony of the government’s commitment to promoting cleaner fuels and the private sector’s role in the energy value chain.
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