Pakistan-Iran gas pipeline will be completed in 2011, Petroleum Minister – Pakistan oil and gas sector update

Pakistan-Iran gas pipeline will be completed in 2011, Petroleum Minister – Pakistan oil and gas sector update

Islamabad – Pakistan may be going through its words energy crises since its birth in 1947 but the federal government is still giving statements that are far from truth. It seems as if Pakistan-Iran gas project is in the pipeline since forever. The Oil and
Gas Minister of Pakistan, Mister Doctor Asim Hussain has revealed in a meeting that Pakistan- Iran gas pipeline is expected to complete in 2013, one year ahead of original schedule.

Hussain said, “First gas flow is targeted by the end of 2014.” He further added that estimated cost of this project is US $ 1.5 billion. The financial information required to carry out the works has been exchanged with the Russian, Chinese and Middle Eastern
investment delegations. He further added that the famous Turkmenistan gas pipeline project is finally going to be signed by the concerned parties on 15^th of November after nearly a decade of wait.

He said the project has been awarded to one of the finest EPC companies in the country. Tenders for pipes, commissioning, process and manufacturing will be floated at the end of this month. A new exploration and production policy will be made by the government
to assist the foreign investors in oil and gas sector of Pakistan. Addition security and businesses needs will also be taken care of to provide a peaceful and safer environment to the companies.

The Government has also revealed plans to table the Petroleum Levy Amendment Bill 2011 and Gas Infrastructure Development Cess Bill 2011 in senate. The opposition, on the other hand, is protesting against the increase in gas tariff to cover up for SNGPL’s
financial loss in billions. Already, large quantities of Liquefied Natural Gas have been important from the Arab region to face the challenges of a demanding winter season.  If the government fails to complete the Iran-Pakistan and Turkmenistan-Afghanistan-Pakistan-India
(TAPI) pipeline projects by the scheduled deadlines, prices are likely to increases with every season in this country.

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Posted by Ahmed Tariq on Oct 31 2011. Filed under Latest News, Middle East, National, Pakistan, Politics, Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry