KARACHI, Sept 3: The government has decided to increase gas production by 10 per cent in the next few months to reduce the gap between its demand and supply. “At present the gas production is 3.5 billion cubic feet and this will be enhanced by another 350 million cubic feet per day,” said Prime Minister’s Adviser on Energy Mukhtar Ahmad during his meeting with members of the Federation of Pakistan Chambers of Commerce and Industry here on Saturday.
Led by Vice-President Akbar Abdullah, the FPCCI team included managing committee members Dr Mushtaq Noorwala and S.M. Muneer.
The adviser said that as a short-term relief plan the government had asked gas companies to increase their production and divert gas from inefficient power generation plants to efficient ones. The difference between their generation capacities was more than 50 per cent.
“The government also wanted to enhance the generation capacity of the existing power units through professional management. The gap between installed and available capacity was 200mw,” he added.
Mr Ahmad also underlined the need for an autonomous body to regulate the oil and gas sector instead of direct control by the government.
The adviser said that available gas reserves were sufficient for the next 23 years provided the consumption continued at the present rate. However, the consumption was fast increasing day by day, which could be reduced the availability to six years. The oil reserves at the present rate of production could run for next 14 hours. The current production goes between 60,000 and 65,000 barrel per day.
“The ministry of petroleum and natural resources in collaboration with the provincial governments would be utilizing every option to streamline oil and gas production in the country. We are also talking to local and foreign companies to engage in inland and offshore exploration,” he said, adding that there were some potential oil and gas areas in Balochistan but exploring companies were hesitant to move due to security concern.
He said the government had initiated a two-pronged strategy to increase gas supply in the country — import of gas through pipeline from Turkmenistan, Qatar and Iran; and import of liquid natural gas.—APP
