Islamabad, 24 January 2022 (TDI): The Asian Development Bank (ADB) has agreed to lend Pakistan technical assistance in order to carry out studies to develop potential gas storage infrastructure development sites. Earlier in the year the bank also agreed to finance multi-billion-dollar loans to Pakistan.
The Asian Development Bank will lend its technical assistance through its energy division of west and central Asia with help from the Ministry of Energy. This study will recognize potential costs, locations, and modalities. Additionally, it will also seek out proximity to load centers and transmission networks.
The Asian Development bank helped Pakistan improve its gas infrastructure in the past in 2005 and then more recently in 2019. The technical assistance being provided now aims to build upon the results of these initiatives.
Multiple pre-feasibility studies were carried out by the Ministry of Energy which will help the ADB in its operations. These studies were on gas supply and demand scenarios, Pakistan’s future energy requirements, and gas import projections.
Additionally, data from a 2021 technical study for underground storage covering reservoir aspects, injection and extraction facilities, and cost estimates will also be considered.
The study by the ADB would recommend ranking two or more over-ground and underground storage facilities by the end of 2023. Besides, a legal framework will be developed. This will allow upstream, midstream, and downstream infrastructure parameters to be linked in the same time period.
Asian Development Bank (ADB)
The Asian Development Bank is a regional development bank that was established in December 1966. ADB’s goal is to achieve a prosperous, inclusive, and sustainable Asia. Its headquarters are in Manilla, Philippines, with 31 field offices around the world.
The bank provides assistance to its member countries through loans, grants, and technical assistance along with advisory services. Its members include but are not limited to China, Sri Lanka, Thailand, Tajikistan, Germany, and Indonesia.