ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi informed the National Assembly on Wednesday that Pakistan-Iran gas project would be completed within the stipulated time.

He said that despite difficulties the project would be completed within the stipulated time. He said the government would have to pay $3 million per day in penalty if it failed to complete the project in time.

The minister said that over the last five years 12 companies from Pakistan and abroad had been granted licences for exploration of oil and gas. He further informed the house that around 112 certified workshops had been working for testing of gas cylinders.

In order to overcome gas shortage in the country and ensure un-interrupted supply to consumers, the government was pursuing gas supply from indigenous sources.

He said the government had granted 21 petroleum exploration licences for Karak, Kohat, Dera Ghazi Khan and Dera Ismail Khan.

The minister said the country at present was facing a huge gap between demand and supply of natural gas and it was being met through a cut in different sectors including power, industrial, CNG, fertiliser and cement.

He said the first LNG terminal would be functional from Nov 1 next year. He said tenders for the fast-track LNG project had been issued and the last date for submission of bids was Oct 1.

He said the government had also decided to set up special police station for checking gas theft, adding that 300 FIRs had been registered against gas theft last week.

He said the government had recently promulgated the criminal law amendment act 2011 to amend the Pakistan Penal Code 1860 and the code of criminal procedure 1898 (CrPC) for declaring gas theft a cognizable offence which would help the SSGC to launch effective anti-gas theft campaign, including registration of FIRs, against culprits.—APP