Islamabad: Pakistan has decided to re-negotiate gas price with Iran after it is going to strike a deal with Turkmenistan over less price to save billion of dollars during the period of next 25 years.
Initial signing ceremony between Pakistan and Turkmenistan about Gas sales purchase agreement (GSPA) would be held on Monday.
“Pakistan will save $ 100 billion over a period of next 25-year due to re-negotiated gas price with Iran and TAPI gas pipeline project,” said Petroleum Minister Dr Asim Hussain while addressing a press Conference here on Sunday.
He said that Iran, Pakistan gas pipe line review had also been taken place and designing of the project was expected on Tuesday.
He said that Turkmenistan, Afghanistan, Pakistan, India (TAPI) gas pipe line project could not be linked with restoration of security in Afghanistan and Pakistan must open every option in a bid to overcome gas shortage.
He said that by the end of 2013 gas situation would be normalized in the country whereas next year gas situation would be less comparatively this year as 500 million cubic feet per day (mmbtu) imported Liquefied Natural Gas (LNG) will commence from third quarter of next year.
“During current month gas shortfall is expected 529 MMCFD, in December 911, January 1127, February 1046 and 762 mmcfd in March next year”, he said adding that month of January is very much critical from gas shortfall point of view.” That is why government has decided review of gas shortage on monthly basis,” he said.
He informed 200 mmcfd gas is expected to be added in system out of which 100 mmcfd gas will come from kunner Pasakhi, 30 mmcfd each from Sui gas and Qaider pur gas field and some gas is also expected from small fields.
Dr. Asim Hussain said that under gas load management plan which has also been approved by Economic Coordination Committee (ECC) 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.
“It is up to fertilizer sector to decide the mechanism for it,” he said adding that government wants to provide gas to all sector but it is not possible keeping in view the gas shortage of the country.
“Petroleum Policy 2011 has been circulated and gas exploration will be increased once it approved by the government”, he said adding that petrol and diesel storage would be increased from current 40,000 tons and 4 new depots will be opened for this purpose.
Federal Minister said that during current month, he will inaugurate a LPG station in Lahore and more LPG stations would be established in the country.
In reply to a question Asim Hussain said that for their vested interests LPG cartel opposed import of LPG but at appropriate time he will of course disclose the names of cartel members.
He informed that in a bid to ensure transparency and merit in ministry and in its attached departments a cell has been established in Ministry of Petroleum and Natural Resources where complaints may be submitted 24 hour.
While replying to a question Dr.Asim Hussian said that during next 4 to 6 months smart meters+accuater would be installed in commercial sector and 1100 smart meters have been already installed in Sindh Province.
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