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Major Gas Project in Pakistan Abandoned as Funding Withdrawn by Asian Development Bank

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In a setback for Pakistan’s energy infrastructure development, the country’s planned gas storage project has been shelved even before it could commence. Originally intended to expand gas storage capacity in the aftermath of the COVID-19 pandemic, the project faced cancellation due to delays in its initiation.

Pakistan’s inability to procure liquefied natural gas (LNG) at reduced prices during the global pandemic highlighted the urgent need for increased storage capacity. However, despite recognizing this necessity, the primary gas storage project failed to materialize.

The Asian Development Bank, which was set to provide funding for the initiative, withdrew its support as Pakistan failed to commence construction within the specified timeframe. Despite receiving technical assistance clearance two years ago, the project remained stagnant, prompting the bank to revoke its grant.

This development underscores the challenges faced by Pakistan in meeting its energy demands and underscores the importance of timely and efficient project management in infrastructure development endeavors.

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