‘IP gas pipeline essential to end shortage’
SNGPL head updates industrialists on the project.
LAHORE:
Industrialists are of the view that the US opposed Iran Pakistan gas pipeline project can heal the gas shortage to an extent.
Depleting reserves and failure to exploit new fields is expected to widen the supply and demand gas, LCCI President Irfan Qaiser Sheikh told the Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Arif Hameed in a meeting on Monday.
Gas shortfall is estimated to reach 2.5 billion cubic feet per day (BCFD) in 2014-15, 3 bcfd in 2015-16 and 3.5 bcfd in 2016-17.
Sheikh believes that the Pak-Iran gas pipeline can rescue the industry from the crisis. “Work on the 785km gas pipeline needs to be accelerated on an emergency basis,” Sheikh added. Initially, the pipeline will add around 750 million cubic feet per day (mmcfd) of gas, which will gradually be increased to over 1.5 billion cubic feet per day (bcfd).
On Pakistan-Iran gas pipeline project, SNGPL Managing Director Arif Hameed said that the government is working efficiently and tenders for the project have been issued.
After many hiccups, Pakistan finally awarded contracts without bidding for the multi-billion-dollar pipeline to Russia last month.
State-owned National Bank of Pakistan (NBP) and Oil and Gas Development Company Limited (OGDC) walked away from the project last year while the world’s largest bank Industrial and Commercial Bank of China Limited (ICBC) after agreeing to finance Pakistan’s side of the pipeline shied away after succumbing to US pressure in March.
Gas shortage to increase
SNGPL Managing Director Arif Hameed has given a heads up to the industry of a serious gas shortage and increase in gas consumption during the upcoming winter season.
In the new gas policy, he said, the gas tariff would be improved to facilitate gas exploration in the country.
Due to high gas tariff, gas theft has increase but a new technology has been installed that identifies pilferage and leakage, he maintained.
LCCI President Irfan Qaiser Sheikh said the shortage of natural gas has become the core issue for the industries and there is a need to find out new reserves as current gas reserves are depleting at a rapid pace.
He said that current line losses of over 10% need to
be minimised to decrease theft and increase revenue collection.
Published in The Express Tribune, July 10th, 2012.
Industrialists are of the view that the US opposed Iran Pakistan gas pipeline project can heal the gas shortage to an extent.
Depleting reserves and failure to exploit new fields is expected to widen the supply and demand gas, LCCI President Irfan Qaiser Sheikh told the Sui Northern Gas Pipelines Limited (SNGPL) Managing Director Arif Hameed in a meeting on Monday.
Gas shortfall is estimated to reach 2.5 billion cubic feet per day (BCFD) in 2014-15, 3 bcfd in 2015-16 and 3.5 bcfd in 2016-17.
Sheikh believes that the Pak-Iran gas pipeline can rescue the industry from the crisis. “Work on the 785km gas pipeline needs to be accelerated on an emergency basis,” Sheikh added. Initially, the pipeline will add around 750 million cubic feet per day (mmcfd) of gas, which will gradually be increased to over 1.5 billion cubic feet per day (bcfd).
On Pakistan-Iran gas pipeline project, SNGPL Managing Director Arif Hameed said that the government is working efficiently and tenders for the project have been issued.
After many hiccups, Pakistan finally awarded contracts without bidding for the multi-billion-dollar pipeline to Russia last month.
State-owned National Bank of Pakistan (NBP) and Oil and Gas Development Company Limited (OGDC) walked away from the project last year while the world’s largest bank Industrial and Commercial Bank of China Limited (ICBC) after agreeing to finance Pakistan’s side of the pipeline shied away after succumbing to US pressure in March.
Gas shortage to increase
SNGPL Managing Director Arif Hameed has given a heads up to the industry of a serious gas shortage and increase in gas consumption during the upcoming winter season.
In the new gas policy, he said, the gas tariff would be improved to facilitate gas exploration in the country.
Due to high gas tariff, gas theft has increase but a new technology has been installed that identifies pilferage and leakage, he maintained.
LCCI President Irfan Qaiser Sheikh said the shortage of natural gas has become the core issue for the industries and there is a need to find out new reserves as current gas reserves are depleting at a rapid pace.
He said that current line losses of over 10% need to
be minimised to decrease theft and increase revenue collection.
Published in The Express Tribune, July 10th, 2012.