ISLAMABAD: Prime Minister Imran Khan had directed to fast track the issuance of licenses for domestic exploration as it is the cheapest source of natural gas, besides asking the concerned departments to remove hurdles in the process of installation of new LNG terminals and virtual pipeline projects by investors.
The prime minister was chairing a high-level meeting to review gas situation in the country, on Wednesday, which was briefed about the demand, supply from the domestic reserves, shortfall and the import of LNG.
The meeting was informed that the current constrained demand of 4,700 MMcfd gas in the country has increased to 6,000-6,500 MMcfd during the winter season.
The current domestic supply amounts to 3,300 MMcfd, which is decreasing every year. The resulting shortfall has to be managed by importing LNG.
The meeting was further informed that with the current infrastructure, a shortfall of nearly 1,000 MMcfd in winters arises for which multiple options are being adopted. For short-term, the existing capacity of domestic terminals is being optimised, and the process of issuance of virtual pipeline licenses is expedited.
Govt alarmed at depleting gas reserves
In addition, the installation of two new LNG terminals is under way with all bottlenecks being removed on a priority basis.
The prime minister directed the concerned departments to remove hurdles in the process of installation of new LNG terminals and virtual pipeline projects by investors.
In this regard, the Ministry of Maritime Affairs, the Ministry of Petroleum and the OGRA were directed to coordinate and also take all other stakeholders on board including the investors.
In addition, the prime minister, while emphasising the importance of North-South Gas Pipeline, directed to ensure its execution without further delay in the agreed timelines.
The meeting was attended by the federal ministers Shaukat Tarin, Hammad Azhar, Asad Umar, and Ali Haider Zaidi; SAPM Mahmood Maulvi, and officials of the concerned departments.
Copyright Business Recorder, 2021
Comments
Comments are closed.