Templates by BIGtheme NET
Home » Finance » Govt initiated Rs800bn gas projects: Khaqan
Govt initiated Rs800bn gas projects Khaqan

Govt initiated Rs800bn gas projects: Khaqan

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi said on Wednesday that the government had initiated gas-related projects worth Rs800 billion, including setting up of LNG terminals and gas pipelines, to meet energy needs of the country.

“By the grace of Almighty Allah, Pakistan will have surplus power due to effective policies of the government by 2018,” he said.

He was speaking at the launching ceremony of the Universal Gas Distribution Company, the first-ever company which has secured Liquefied Natural Gas (LNG) import and sale licence to feed the Compressed Natural Gas (CNG) stations.

The minister invited other private companies to come forward and get such licences as it would create an atmosphere of competitiveness in the market.

He said that LNG was cheaper than any other fuel and it would end reliance of the CNG sector on Sui Northern Gas Pipelines Limited and Sui Southern Gas Company to run their outlets.

LNG would have great significance in strengthening the national economy even after the arrival of gas through Iran-Pakistan and Turkmenistan-Afghanistan-Pakistan-India pipeline projects, he said.

With the import of LNG, he said Pakistan that was importing one million tonne fertiliser, now it had 1.5 million tonnes surplus fertiliser. All gas-based power plants are in running condition, CNG sector was back to its business and industrial sector was getting full supply, he added.

The minister said the CNG sector was moving on the path of revival gradually and hinted that in the coming years, it would be preferred over petrol.

CEO Universal Gas Distribution Company Ghiyas Abhullah Paracha said that CNG stations are consuming 100mmcfd gas per day and it would go up to 250mmcfd per day soon,”

Ghiyas said that the association had so far made agreement with 1,351 CNG stations to get LNG through the gas companies distribution system and it was confident that the CNG sector would achieve ‘complete revival’ due to ongoing efforts.

Among others, Minister of State for Education Baligh ur Rehman, Adviser to Ministry of Petroleum Zahid Muzaffar, President Federation of Pakistan Chambers of Commerce and Industry Abdul Rauf Khalid, representatives of the business community and Ogra attended the ceremony.

Courtesy : Dawn News



Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkdin
Contact us
Please Like Facebook Fan Page
By Liking facebook Page you are Updated about Latest Videos & News