Economics & Business

Country facing 50% gas shortfall: Qazi

ISLAMABAD: Secretary Petroleum Imtiaz Qazi has said that currently the country is facing 50% gas shortfall; meanwhile the gas production is decreasing with the passage of every day. He said that initially one thousand to two thousand MW of electricity will be generated from the Thar Coal reserves which will later be scaled up to four thousand MW.

Addressing the third Oil and Gas Forum Pakistan in Islamabad, the Secretary Petroleum said that the Sindh government has made significant progress in the exploitation of coal reserves at Thar. The successful exploitation there, he said , will serve as a backbone for energy needs of the country.

He said that the government fully realizes the difficulties faced by the economy due to energy crisis and is addressing the matter in a structured manner. The petroleum secretary pointed out that the country is currently facing natural gas shortfall of 2 billion cft and to meet this gap, exploration activities have been accelerated.

He said that a tight gas policy has also been formulated which has been sent to the Council of Common Interests for approval. After getting nod from the CCI, this untapped resource will also be exploited.

The Secretary Petroleum said that the government has allowed the private sector to import LNG. In addition, Iran- Pakistan and Turkmenistan-Afghanistan-Pakistan gas pipeline projects would also help meet the growing energy requirements.

Meanwhile addressing the participants HAS COL Group Chairman Imtiaz Hassan Khan has demanded of the government to set up National Energy Authority to tackle the issue of energy, adding that the experts of the energy sector should be included in the authority.

He said that the priorities for the provision of gas should have to be set, which include for electricity production, for industry, for commercial use, for transportation and at the end the gas should be supplied for the house hold use. He said that if his suggestion was accepted than the country would save over $100 billion in form of export of gas and oil during the next 12 years.-SANA

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Haroon Akram Gill

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