Monday, May 21, 2012
Pakistan to renegotiate gas prices with Iran
ISLAMABAD - Federal Minister for Petroleum, Dr Asim Hussain, on Sunday said that Pakistan had decided to renegotiate gas prices with Iran, and survey and design work on Pak-Iran gas pipeline had been completed.
Addressing a press conference and briefing on the measures taken in the last six months he said that survey and design work on Pak-Iran gas pipeline had been completed, saying that Pakistan had decided to renegotiate the gas price with the Iranian authorities.
The minister said that initial sell and purchase agreement on Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline would be signed today (Monday) on the arrival of Turkmenistan President to Pakistan. He said that Iran, Pakistan gas pipeline review had also been taken place and designing of the project was expected tomorrow (Tuesday).
Dr Asim that there was a gas shortage in the country and this situation in the country would be normalised by the end of 2013. In next year the gas situation would be less as compared to this year. He further elaborated that around 500 million cubic feet per day (mmbtu) imported Liquefied Natural Gas (LNG) would commence from the third quarter of 2012.
Talking about gas shortage, he said that expected shortfall in current month was 529 MMCFD, 911 in December, 1027 in January (2012), 1046 in February (2012) and 762 in March (2012).
The minister said that month of January was critical for gas shortage so the incumbent government had decided to review gas shortage on monthly basis. Around 200 mmcfd gas is expected to be added in system out of which 100 mmcfd gas will be from kunner Pasakhi, 30 mmcfd each from Sui gas and Qaider pur gas field and some gas is also expected from small fields.
He said that compressed natural gas (CNG) and industrial sector will face three days gas load shedding in a week and gas supply would be cut for Fertilizer sector on rotational basis. The gas load management plan has also been approved by Economic Coordination Committee (ECC), he added.
To a question, the minister said he would unveil the name of cartel members who opposed import of LPG only for vested interest.
Addressing a press conference and briefing on the measures taken in the last six months he said that survey and design work on Pak-Iran gas pipeline had been completed, saying that Pakistan had decided to renegotiate the gas price with the Iranian authorities.
The minister said that initial sell and purchase agreement on Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline would be signed today (Monday) on the arrival of Turkmenistan President to Pakistan. He said that Iran, Pakistan gas pipeline review had also been taken place and designing of the project was expected tomorrow (Tuesday).
Dr Asim that there was a gas shortage in the country and this situation in the country would be normalised by the end of 2013. In next year the gas situation would be less as compared to this year. He further elaborated that around 500 million cubic feet per day (mmbtu) imported Liquefied Natural Gas (LNG) would commence from the third quarter of 2012.
Talking about gas shortage, he said that expected shortfall in current month was 529 MMCFD, 911 in December, 1027 in January (2012), 1046 in February (2012) and 762 in March (2012).
The minister said that month of January was critical for gas shortage so the incumbent government had decided to review gas shortage on monthly basis. Around 200 mmcfd gas is expected to be added in system out of which 100 mmcfd gas will be from kunner Pasakhi, 30 mmcfd each from Sui gas and Qaider pur gas field and some gas is also expected from small fields.
He said that compressed natural gas (CNG) and industrial sector will face three days gas load shedding in a week and gas supply would be cut for Fertilizer sector on rotational basis. The gas load management plan has also been approved by Economic Coordination Committee (ECC), he added.
To a question, the minister said he would unveil the name of cartel members who opposed import of LPG only for vested interest.
This news was published in print paper. Access complete paper of this day.
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