Abbasi reiterates resolve to end energy crisis

Petroleum minister says exploring natural gas potential is only solution

LAHORE: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi reiterated the government’s commitment to resolving the energy crisis before the end of its five-year term, saying that the solution lies in exploring the potential of natural gas.

Addressing the country’s power woes was among the top priorities of the government, and some progress has been made with the import of LNG.

“If we manage to eliminate the shortage of gas, then there will be no load-shedding in the country,” said Abbasi, while addressing media after the first Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG) conference.

“Pakistan enjoys the lowest prices of petroleum products compared to the rest of the world. The government will pass on relief if the price further drops in the international market.”

Abbasi added that for the last 15 years there has been no increase in domestic natural gas production, remaining stagnant at 4 billion cubic feet per day (bcfd). “But demand has jumped to 8bcfd and the government is striving to enhance local production.

“During the term of the current government, more than 67 gas discoveries have been made, but the rate of depletion of older gas reserves has been higher.”

Abbasi declared that the government would come up with a sustainable solution to the energy crisis. “We are working on a pipeline project worth Rs150 billion and will start work on another pipeline costing Rs250 billion to provide gas to the consumers.”

Published in The Express Tribune, February 26^th, 2016.

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