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Petroleum Ministry hopeful of LNG import by year-end

Petroleum Ministry hopeful of LNG import by year-end

ISLAMABAD: The Ministry of Petroleum and Natural Resources is hopeful that the import of Liquefied Natural Gas (LNG) is likely to start by the end of this year to offset the fast depleting natural gas reserves in the country.
According to an official of the ministry, the LNG will be imported through a transparent process and at competitive prices. He informed that work on the country’s first LNG terminal has already been started which is likely to be completed by December this year. On Pakistan-Iran Gas Pipeline Project, the official informed that a group of both the countries comprising experts would hold a meeting by this month to workout modalities to implement the project. However, international sanctions on Iran are the main reasons for the delay in the project.
The government is also working on alternative schemes to get gas from Iran, which includes establishment of an LNG terminal at Gwadar and will be connected with the Iranian border for import of gas.
On Turkmenistan-Afghanistan-Pakistan-India Gas Pipeline project, he said an operating agreement has already been signed in this regard.
About ban on gas connections to new housing colonies, he said the ban was imposed in 2011 due to anticipated gas shortage, adding that “we have now moved a summary to get approval for giving new connections.”