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Gilani inaugurates SSGC-LPG terminal |
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KARACHI, Feb 18 (APP): Prime Minister Yousuf Raza Gilani on Saturday inaugurated Rs 2.5 billion first fully integrated SSGC-LPG terminal to handle 2 million metric tons of LPG at Port Qasim here.Speaking on the occasion, he called for adopting a creative approach to respond to emergent energy challenge as well as work out a comprehensive strategy on sustainable basis.Sindh Governor Dr Ishrat-ul-Ebad Khan, Chief Minister Syed Qaim Ali Shah, Minister for Port and Shipping Babar Khan Ghori, Special Assistance to PM on Petroleum Dr Asim Hussain, provincial ministers, high officials and leading businessmen were also present on the occasion.
He said the the fluctuating nature
of crude prices in the international market has posed serious challenges
to global economies and the reliance on imports cannot be a feasible
long-term solution.
Gilani pointed out that the Council
of Common Interests has very recently approved the National Petroleum
Exploration & Production Policy 2012, which recognizes the operating
challenges and key considerations that face Pakistan oil exploration
and development industry.
He noted the policy signifies the
government’s commitment to provide fiscal and regulatory incentives to
E&P companies, which will provide an impetus to them to speed up
their exploration and development programmes with a view to maximizing
domestic oil and gas production in the coming years.
Referring to core objectives of the
policy, the Prime Minister said that it would accelerate exploration
and production activities in Pakistan with the purpose to achieve
optimum self-sufficiency in energy by increasing oil and gas production.
Similarly, the policy will promote
direct foreign investment in the country’s energy sector by increasing
competitiveness of its terms of investment and encourage the Pakistani
oil and gas companies to get fully involved in the investment
opportunities.
At the same time, it will promote
increased E&P activity in the onshore frontier areas by providing
globally competitive incentives, he added.
Gilani said that this policy will
encourage indigenous production and decrease reliance on imported energy
in a phased manner. “It is in this background that recourse to LNG and
LPG is critical to bridge the gap between demand and supply and ease
pressure on local production”, he observed.
He pointed out that Pakistan has
concluded a Memorandum of Understanding with the Government of Qatar for
import of LNG which is equivalent to 500 million cubic feet of gas per
day. The imported LNG will be provided to power houses to generate 2,500
megawatt of power in the country, he added. Recounting key mega
projects undertaken by the present government to meet the energy
demands, the Prime Minister said they included Diamir Bhasha Dam, Thar
coal power project, TAPI project, and CASA-lOOO in addition to dozens of
small and medium-sized dams across the country.
“Pakistan is also committed to
Iran-Pakistan gas pipeline project, which will help the country overcome
its energy problem to a large extent. The implementation of these mega
projects will not only enhance overall energy supplies, provide energy
diversity but also lead to a greater energy security.”
He said that Pakistan meets 53 %
its total energy requirements through indigenous oil and gas production
whereas other indigenous resources further meet 19% of the country’s
energy needs. The remaining 27 % of the energy needs are currently being
met through imports. The energy imports are likely to increase as
domestic gas production and supply has presently failed to meet the
demand of the domestic users, and the industrial sector power
generation.
Due to their all-pervasive use by
these sectors, the country’s gas reserves may be insufficient to meet
the rising demand and deplete fast. Such a situation will force the
country to resort to importing large volumes of gas at international
prices to feed the domestic market if local production is not enhanced
in relation to demand.
The Prime Minister said that the
establishment of SSGC-LPG terminal at Bin Qasim will greatly facilitate
the handling of energy imports in the shortest possible timeframe.
Earlier the Prime Minister formally inaugurated the plant by unveiling the plaque.
Special Assistant to the Prime
Minister Dr. Asim Hussain said that LPG was ignored in the country, but
the present government would establish two LPG plants for producing 100
mmcf of gas per day, one in the south and the other in the north of
Pakistan.
He said the government would
subsidise LPG under Benazir Income Support Programme and give free LPG
cylinders and stove to down trodden segment of the society.
Managing Director SSGC Azim Iqbal
Siddiqui highlighted the importance of LPG plant and said the LPG would
serve as a bridge fuel till such time Pakistan hits a major oil and gas reserve.
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Chinese Premier Visit to Pakistan |
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Presidential address to the joint sitting of parliament |
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