Pakistan welcomes Russia’s interests in TAPI, IP

Welcoming the interest shown by Russian in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) and Iran-Pakistan (IP), Advisor to Prime Minister on Petroleum & Natural Resources Dr. Asim Hussain expressed confidence over the bilateral cooperation of the two countries.

The advisor asserted that the country’s approach towards meeting energy requirements is of urgent nature and completion of mega projects.

He expressed these views while holding a meeting with a twelve-member delegation headed by Deputy Minister of Energy of the Russian Federation Y.P. Sentyurin. He commended the in-principle decision of Russian investment in the mega projects.

Pakistan’s Secretary Petroleum briefed the delegation on latest position of TAPI and IP pipeline projects, insisting on expanding the bilateral treaty framework of cooperation in oil and gas sector.

He also informed the visiting dignitaries that the ministry had extensively worked on Shale and Tight Gas policies that would be of interest to the Russia.

The two countries showed agreement over details of the two-mega gas projects that would be shared instantly and economic modes would remain open to discussion.

According to the press statement, representatives of Russian companies including Gazprom EP and PJSC Stroytransgaz also briefed the Advisor to the Prime Minister on possible expertise that could be provided for the mega projects.

In the meantime, the shortfall of natural gas is expected to reach six billion cubic feet per day (bcfd) by 2020 which at present is around three billion.

Secretary Petroleum, Muhammad Ejaz Chaudhry informed Senate Standing Committee on Petroleum and Natural Resources that the ministry was making all-out efforts to deal with the alarming gas shortage, but the country has limited assets.

He further said, “This is the shortage which forced the government to curtail supply to industry and other sectors and added the planned import of gas would help decrease about two million bcfd of shortfall”.

The meeting was further informed that the ministry was taking solid steps to enhance local production to meet the growing needs. Despite difficulties, they are making efforts to deliver in a better way.

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Posted by Faisal Farooq on Jun 29 2012. Filed under National, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.