ederal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi on Thursday said that Pakistan would ask the Iranian government to revise downward gas price under Iran-Pakistan (IP) gas pipeline project, adding that the government had planned to increase imports of Liquefied Natural Gas (LNG) to 2 Billion Cubic Feet by 2016. Talking to media persons after attending Senate Standing Committee on Petroleum and Natural Resources' meeting, the minister said that CNG sector was not responsible for gas shortages in the country.
He said that according to Gas Sale Purchase Agreement (GSPA) with Iran, IP gas would cost $12 per Million British Thermal Unit (MMBTU) as compared to local gas price of $4.5 per MMBTU, almost three times high; therefore the government had decided to ask the Iranian side to revisit gas price.
While briefing the committee, the minister said that 400 MMCFD of LNG import would begin by November 1, 2014 and within next three years country's LNG import will soar to 2BCFD mark. He informed the committee that during the upcoming winter gas crisis would intensify and the government might completely suspend gas supply to CNG and industrial sectors in Punjab. He added that there was no plan to increase gas tariff for domestic gas consumers.
During the meeting, Senator Abdul Nabi Bangash, while protesting against non-provision of gas to Tal area of district Kohat, announced his resignation from the committee. Senator Jahangir Badar of Pakistan People's Party (PPP) while supporting Bangash also walked out of the meeting, saying that the relevant officials were not taking the committee's decisions seriously.
Later, Chairman of the Committee Senator Mohammad Yousuf adjourned the committee's meeting saying that they are of no use as the officials are paying no attention to the decisions of the committee. The committee also postponed the issue of LNG import scandal worth $1 billion, which emerged in 2009, and decided to discuss the issue in the next meeting.
He said that according to Gas Sale Purchase Agreement (GSPA) with Iran, IP gas would cost $12 per Million British Thermal Unit (MMBTU) as compared to local gas price of $4.5 per MMBTU, almost three times high; therefore the government had decided to ask the Iranian side to revisit gas price.
While briefing the committee, the minister said that 400 MMCFD of LNG import would begin by November 1, 2014 and within next three years country's LNG import will soar to 2BCFD mark. He informed the committee that during the upcoming winter gas crisis would intensify and the government might completely suspend gas supply to CNG and industrial sectors in Punjab. He added that there was no plan to increase gas tariff for domestic gas consumers.
During the meeting, Senator Abdul Nabi Bangash, while protesting against non-provision of gas to Tal area of district Kohat, announced his resignation from the committee. Senator Jahangir Badar of Pakistan People's Party (PPP) while supporting Bangash also walked out of the meeting, saying that the relevant officials were not taking the committee's decisions seriously.
Later, Chairman of the Committee Senator Mohammad Yousuf adjourned the committee's meeting saying that they are of no use as the officials are paying no attention to the decisions of the committee. The committee also postponed the issue of LNG import scandal worth $1 billion, which emerged in 2009, and decided to discuss the issue in the next meeting.
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