LNG Shipping Shortfall Means Update for Pakistan Freight Flag Carrier

PAKISTAN – According to local news reports the burgeoning energy crisis in the country has prompted the Government to authorise the complete redevelopment of the fleet belonging to national flag carrier the Pakistan National Shipping Corporation (PNSC). The company which currently runs eleven vessels ranging from oil and dry goods tankers to combination container and break bulk freight vessels needs more capability for carrying liquefied natural gas to help alleviate the paucity of available energy.

Cost of the fourteen new ships is said to be in excess of $560 million and some of the money is said to be coming from USAID which has been involved in an educational promotion to reduce the country’s energy use. Just this week the organisation launched a media week featuring its ‘Tube Well’ efficiency programme (viewable HERE) complete with TV advertisements aimed at the agricultural sector which is the third largest consumer of electricity.

The energy crisis has caused the Oil and Gas Regulatory Authority (Ogra) to grant licences for the import of LNG in an attempt to make up the country’s shortfall which Petroleum and Natural Resources Minister Dr Asim Hussain said this week had reached ‘one billion feet’ confirming figures released in May showing that Pakistan’s demand was for five billion feet of gas per day whilst only having a supply of 4 billion.