ISLAMABAD: The Ministry of Petroleum and Natural Resources has prepared a summary regarding regularistaion of Liquid Petroleum Gas (LPG) prices which will be tabled in next meeting of the Council of Common Interest (CCI) and its approval will help bring down prices of LPG substantially.
Talking to journalists, Minister for Petroleum and Natural Resources Khaqan Ababsi informed that his ministry had identified 46 oilfields having a capacity of 280 mmcfd dormant natural gas, which could be utilize to generate up to 1000 MW electricity.
He claimed that this dormant gas would be utilized to tackle the energy crisis and generate electricity.
Abbasi pointed out that the Ministry of Petroleum had given its recommendations and proposals to decrease LPG prices and it was up to the CCI now, if all provinces agree and approve it, prices would come down immediately.
Earlier, while briefing National Assembly Standing Committee on Petroleum and Natural Resources, the minister said that due to severe shortage of gas, CNG stations would be closed for four months (starting from November 15), and after winter is over, the old schedule of two days in a week operation would again be implemented. Abbasi however, said that his ministry has told CNG Association that if they wanted to run their stations on permanent basis they would have to switch to LNG.
When media pointed out government announcement of gas supply to industry, he simply said “we have very little gas and domestic consumers are our priority, the day winter starts, gas supply to industry would be stopped, government has given them electricity, why don’t they use it, Ababsi said.
We have told them to get your own LNG, we would convert it into natural gas and would supply them through the same lines they are getting natural gas, Minister explained.
Minister said that LNG terminal construction was going on in fast pace and first LNG Terminal would be operational in the first quarter of 2015. Under the chair of Chaudhry Bilal Ahmad Virk, the committee reviewed the implementation status of Recommendations, made by the Standing Committee during November, 2013 to May, 2014.
SSGCL officials revealed that the Supreme Court had declared the Implementation Agreement issued on August 2003 between Sui Southern Gas Company Limited and M/s JJVL, as null and void.
