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With Pakistan facing a looming challenge of depleting gas reserves, its Federal Cabinet has directed the Petroleum Division to prepare short, medium and long-term plans, reported local media.
The Federal Cabinet has also issued asked the Petroleum Division to ascertain gas reserves depletion rate so as to determine how much of it was due to theft, collusion and distribution losses, Business Recorder reported citing sources. Hammad Azhar, the Minister for Energy, informed Federal Cabinet on November 30 that the gas reserves were depleting at the rate of 9 per cent per annum, said the Pakistani publication. In absence of any major discoveries in the coming years, the gas reserves would be fully depleted in future due to the low rate of replenishment. The Minister also maintained that in such a scenario, there would be increased dependence on imported gas, for which the Petroleum Division was vigorously pursuing the setting up of new LNG terminals, as well as, construction of the North-South Gas Pipeline with the help of Russia, according Dr Arshad, Secretary Petroleum Division, said that a new petroleum policy was also being formulated to give incentives for exploration of tight gas, which would further pave the way for the extraction of shale gas. (ANI)
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