Iran project hit by sanctions: minister

Published March 20, 2014
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi. — File photo
Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi. — File photo

ISLAMABAD: Except for the issue of international sanctions, the government is not under any other pressure against the Iran-Pakistan gas pipeline project, Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said.

Talking to reporters here on Wednesday after a technical workshop on energy issues, he said it was unfortunate that a technically and economically viable project had been hit by sanctions.

“We have the capacity to complete the project in 36 months after the sanctions are lifted,” he said.

He said Iran had been informed that there was no pressure on Pakistan on the issue from any other side. The neighbouring country was aware of the situation that was not of Pakistan’s making, he said.

Replying to a question, the minister said the government would try to restore gas supply to the transport sector in Punjab for three days a week during the summer, but the timing of then resumption would depend on weather conditions.

He said the requirement of natural gas in the country currently was about six billion cubic feet per day, while the total production was four billion cubic feet.

He said the government would ensure import of liquefied natural gas by the end of this year to partially meet the demand during the winter.

The minister said the government was trying to address critical issues confronting the economy.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Editorial

Ominous demands
Updated 18 May, 2024

Ominous demands

The federal government needs to boost its revenues to reduce future borrowing and pay back its existing debt.
Property leaks
18 May, 2024

Property leaks

THE leaked Dubai property data reported on by media organisations around the world earlier this week seems to have...
Heat warnings
18 May, 2024

Heat warnings

STARTING next week, the country must brace for brutal heatwaves. The NDMA warns of severe conditions with...
Dangerous law
Updated 17 May, 2024

Dangerous law

It must remember that the same law can be weaponised against it one day, just as Peca was when the PTI took power.
Uncalled for pressure
17 May, 2024

Uncalled for pressure

THE recent press conferences by Senators Faisal Vawda and Talal Chaudhry, where they demanded evidence from judges...
KP tussle
17 May, 2024

KP tussle

THE growing war of words between KP Chief Minister Ali Amin Gandapur and Governor Faisal Karim Kundi is affecting...