PM orders fast track licensing for domestic gas exploration

Islamabad: Prime Minister (PM) Imran Khan has directed to fast-track the issuance of licenses for domestic exploration of gas, which is the cheapest source of natural gas.

The prime minister ordered while chairing a meeting on gas situation in the country, he also directed the concerned departments to remove hurdles in process of installation of new LNG terminals and virtual pipeline projects by investors.

The meeting was briefed about the demand, supply from the domestic reserves, shortfall and Import of LNG.

It was informed that the current constrained demand of gas in the country is 4700 Million Standard Cubic Feet per day, which increases to 6000-6500 MMCFD during the winter season.

The current domestic supply amounts to 3300 MMCFD, which is decreasing every year. The resulting shortfall has to be managed by importing LNG.

For short term, the existing capacity of domestic terminals is being optimized and the process of issuance of virtual pipeline licenses is expedited.

In addition, the installation of two new LNG terminals is underway with all bottlenecks being removed on priority basis.